In its TV and social media commercials, German automaker Mercedes-Benz (DDAIF) famously sells its luxury vehicles under the tagline "The Best or Nothing," which signifies the brand's rock-solid reputation for building some of the most desirable cars out on the road. But while the brand's plushy sedans, powerful sports cars, and towering SUVs have proven to be winners for the three-pointed star, customers with the means to shell out for Mercedes have turned up their noses at one particular offering from the brand: electric vehicles. 💰💸 Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💸In October 2023, American Mercedes dealers complained that they had difficulty selling the six-figure EQS sedan, noting that its 'jellybean shape' turned off customers who wanted 'aspirational' cars.
Last year, the brand promised its North American dealers that it would provide its customers a 'balanced' portfolio of powertrains, shifting away from an aggressive EV strategy to a play that includes gas-powered cars and hybrids alongside electric offerings.Although Mercedes struggled to get a foothold in the electric vehicle space, it isn't done with EVs yet. Various Mercedes-Benz vehicles are assembled in its Baden-Württemberg factory.
The luxury automaker plans a major shift in its EV strategy. picture alliance/Getty Images Mercedes retools its EV strategyAccording to a new report from Automotive News Europe, Mercedes-Benz will offer its upcoming models in electri.
