Mercedes-Benz Sets Sights on Being Most Desirable EV Brand

Mercedes-Benz is seeking to dethrone Tesla as the leading luxury electric vehicle maker. The company is expanding its own charging infrastructure, speeding up the electrification of the fleet and equipping its cars with Level 3 self-driving technologies.

The goal of Mercedes, according to Dimitris Psillakis, is very clear: to emerge as a highly coveted, luxurious electric auto brand. To do this, a balance must be struck between excellent products, fantastic design and helpful service. Psillakis, who is assisting in managing the strong drive toward electric vehicles, stated that the company does not view Tesla as a luxury rival but rather as a disruptive force in the auto industry, particularly with regard to electric cars.

It appears that Mercedes’ approach is registering success. For the first three months of 2023, its sales increased by 251% compared with the same period last year, reaching 7,341 electric vehicles. The company says that in America, 12% of its sales are accounted for by electrical vehicles.

While speaking to ABC News, Jessica Caldwell said that Tesla changed the definition of luxury, yet its share of the market is currently shrinking. The year 2019 marked Tesla’s peak when it commanded 80% of the overall EV market.

At this time, 6% of American car sales are electric vehicles. According to Caldwell, motorists are still hesitant to transition to electric vehicles because of to range anxiety and a lack of accessible charging facilities. Clients are being reassured by Mercedes with outlets for charging, which also serve as an effective marketing tool despite their high cost.

A solution to the nation’s problem of electric vehicle charging could be found in Mercedes’ charging stations, which will debut in the United States and Canada first and are going to be accessible by vehicles made by other manufacturers.

Tesla’s extremely vast network of superchargers and a wide selection of vehicles have earned it a devoted following, according to Tony Quiroga. He said, however, that premium companies such as Mercedes are still in a race for the mass market with Tesla’s Models 3 and Y, although Mercedes may be catching up. He asserted that Mercedes would not lag behind Tesla for long. With its charging infrastructure, Mercedes stands to gain significantly.

Quiroga reported that the two Mercedes electric vehicles — the EQ S580 and the EQ S450+ —outperformed the EPA range tests when put through rigorous 75 mph testing by personnel. A car exceeding its EPA ratings is extremely uncommon, he added.

Mercedes will be in a better position than its rivals due to its momentum in the electric vehicle market. According to Robby Degraff, an Auto Pacific analyst, the company has so far nailed all of the appropriate market groups, from the EQE sedan to the more substantial EQS SUV. This is a strategy and approach that Degraff believes Mercedes-Benz has successfully mastered.

As each vehicle maker, including Mullen Automotive Inc. (NASDAQ: MULN), zeroes in on particular market segments, the race for dominance in the EV space is likely to become more intense.

NOTE TO INVESTORS: The latest news and updates relating to Mullen Automotive Inc. (NASDAQ: MULN) are available in the company’s newsroom at https://ibn.fm/MULN

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