A new American power is threatening Germany's historic grip on the premium auto market.
Once the pinnacle of gasoline-powered luxury, BMW and Mercedes-Benz are losing share to electron-powered Tesla.
But now the empire is striking back.
The German luxury stalwarts this month revealed a pair of high-margin EVs as part of a campaign to take the fight to the American upstart.
Mercedes said it will be ready to go all-electric early next decade. BMW promises to offer a dozen new BEVs globally by 2023.