Mercedes-Benz to double down on its electric vehicle sales in India

By Akshay Kedari  | Date: 2022-01-17

Mercedes-Benz to double down on its electric vehicle sales in India

German luxury automaker Mercedes-Benz is seeking to increase sales of its electric vehicles in India, according to a senior business executive, with potential plans in works to locally manufacture its all-electric sedan EQS.

By the fourth quarter of 2022, Mercedes-Benz India is likely to debut the locally built EQS to complement its current all-electric SUV EQC, which was released as a wholly imported unit in October 2020.

Martin Schwenk, Mercedes-Benz India Managing Director & CEO, mentioned that they have taken a step by step approach in building electric vehicle strategy in India. He added that EQC was first available in six Indian markets before gradually expanding, and it is now available in 50 cities, with the next step as the addition of a car to the range that could have a higher volume.

The EQS will be manufactured in the company's plant located at Chakan in Maharashtra. Schwenk stated that it is a vehicle with entirely unique features with a distinct consumer base, and so they anticipate a greater range of interest.

When asked if the EQS' local assembly would lead to the production of other upcoming EV models in India, Schwenk claimed that although there are potential plans, the company is also working in response to the current market conditions.

Mercedes-Benz is known for its global EV portfolio and the company can analyze which car has the highest possibility of being introduced in India, either locally or as an imported vehicle.

When asked if Mercedes-Benz India has given up on demands for lower customs taxes on imported vehicles, particularly electric vehicles, Schwenk stated that the company will not modify its stance since extremely high import duties impede the localization of the technology and uptake in the market.

Source Credits:

https://www.business-standard.com/article/companies/mercedes-benz-aims-to-accelerate-sales-of-electric-vehicles-in-india-122011600221_1.html

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Hyundai’s U.S. investment expected to reach USD 10 billion by 2025

Hyundai’s U.S. investment expected to reach USD 10 billion by 2025

By Akshay Kedari

South Korea's largest carmaker Hyundai Motor Group is reportedly planning to invest an additional USD 5 billion in the U.S. by 2025. The company aims to strengthen its collaboration with technological firms in the country. During a visit to Se...

Amazon Smart Commerce to digitize 10 million small businesses in India

Amazon Smart Commerce to digitize 10 million small businesses in India

By Akshay Kedari

E-commerce behemoth Amazon Inc. has reportedly launched a “Smart Commerce” initiative in India, aiming to digitalize 10 million small businesses, allow for USD 10 billion worth in exports, and create 2 million jobs by 2025. During the ...

McDonald’s to leave Russia after 30 years amidst Ukraine’s invasion

McDonald’s to leave Russia after 30 years amidst Ukraine’s invasion

By Akshay Kedari

After Ukraine’s invasion, multinational fast-food giant McDonald's Corp. is reportedly planning to sell all its restaurants in Russia, pulling operations from the nation after 30 years. The world's biggest fast-food chain closed 847 ...

Berlin’s GetHenry bags USD 17.4 Mn seed funding for business expansion

Berlin’s GetHenry bags USD 17.4 Mn seed funding for business expansion

By Akshay Kedari

GetHenry, a Berlin-based company that offers couriers and logistics organizations electric last-mile delivery bikes, has reportedly raised USD 17.4 million seed round to grow its operations across Europe. The latest investment round was led by LocalG...

Ferrari to equip the upcoming Purosangue with its trademark V12 engine

Ferrari to equip the upcoming Purosangue with its trademark V12 engine

By Akshay Kedari

Italian luxury sports car manufacturer Ferrari S.p.A. will equip its much-awaited Purosangue SUV with a 12-cylinder engine, as it focused more on fuel-efficient models. Confirming the news, Ferrari Chief Executive Benedetto Vigna claimed that the com...