There are inaccuracies in this video. Sam Evens said the Chinese are turning their back to Mercedes and prefer the domestic EV. That suggests the Chinese have a choice. The truth is Chinese EV are priced realistically for low profit margin. Thus Chinese EVs are for a mass market totally different from the Mercedes that is for the high end status symbol. May be China's economy isn't doing well plus many foreign investors have left so there are fewer need for the status symbol.
Also Chinese people worship technology available in expensive domestic EV while Mercedes has luxury which becomes less attractive to the Chinese. However this is not a competition but rather for different tastes. The heart of the matter is if a car manufacturer charges 3 to 5 times more than a local car of similar specification its sale depends on vehicle's convincing superior characteristics. Mercedes isn't alone loosing ground because BMW and Porsche are in the same boat.