Mercedes-Benz estimates 25% of sales in India from EVs in next 5 years

Mercedes-Benz expects to see at least 25% of its sales in India come from electric vehicles within the next five years, according to Mercedes-Benz India MD and CEO Martin Schwenk during the unveiling of the AMG EQS 53.

Germany-based luxury car marquee presently leads the luxury car market in India, and it intends to maintain that position as the industry turns its focus from internal combustion engine models to electric vehicles.

Speaking of which, Mercedes India is expected to launch three electric vehicles in the upcoming four months. This move is part of the company's plan to accelerate its electric mobility adventure in the country, claimed by the three-star logo brand.

The next model in the pipeline is the locally produced EQS 580 sedan, which is scheduled to launch in September, trailed by a 7-seater EQB electric SUV, which is set to hit showrooms in November of this year.

While discussing the automaker's EV strategy in India, the company is bullish and optimistic when looking at the growth potential, expecting about 25% of sales (from EVs) in the upcoming five years.

Schwenk further added that the contribution of EVs to the company's overall sales is currently in the low single digits, but from 2023 when the new electric models will be fully available, that percentage might increase to the high single digits.

According to the executive, the market potential is such that Mercedes India will successfully make the switch to electric vehicles, given the general market sentiment, customer expectations, and the company's product availability.

In similar developments, Volkswagen and Mercedes signed battery materials cooperation agreements with Canada and have teamed up to gain access to lithium, nickel, and cobalt. The move comes as manufacturers roll out their global electric-vehicle expansion strategy to overhaul Tesla, the EV market leader.

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