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Pepsi has beaten Coca-Cola to the punch in announcing plans to sell a new “midcalorie” cola.

Pepsi Edge, set to appear in late summer, will be touted as having half the sugar, carbohydrates and calories of regular Pepsi, but with a better taste than diet drinks.

The goal is to attract consumers who don’t like diet sodas but still want to cut calories and carbs. Coke could introduce a similar product sometime this year, while Dr Pepper/7 Up is looking at the category as well.

Pepsi was first, however, in confirming the creation of a midcalorie cola. The announcement came Tuesday at a gathering of Pepsi bottlers in Las Vegas.

“We think the timing is right,” said Ahad Afridi, vice president of innovation at Pepsi-Cola North America. “Consumers want something like this.”

Pepsi Edge will have 70 calories per 12-ounce can vs. the 150 calories in regular Pepsi. Pepsi Edge will be pitched as offering good taste with less sugar and carbs, without emphasizing lower calories.

“This is not a diet product,” Afridi said.

Pepsi is cutting the sugar in Pepsi Edge by using a blend of high-fructose corn syrup and Splenda, an artificial sweetener.

Pepsi Edge is likely to face competition. Coke has tested a midcalorie cola under the name Coke Ultra. That moniker won’t be used, however, and Coke hasn’t officially confirmed whether it will try a midcalorie drink.

“If you want a great-tasting, no-carb soft drink, we’ve got Diet Coke,” Coke spokesman Dan Schafer said.

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Edited by Lara Weber ([email protected]) and alBerto Trevino ([email protected])