New Delhi: Mercedes-Benz, the esteemed German luxury carmaker, is gearing up to infuse Rs 200 crore into India this year. This strategic investment will target new product launches, manufacturing enhancements, and digital advancements, fortifying its stance following a stellar 2023, where it marked record sales of 17,408 units. The company aims to bolster its presence and offerings in the country.
"This year holds special significance as we celebrate 30 years of Mercedes-Benz in India. We are injecting an additional Rs 200 crore into our Pune factory, culminating in a total investment of Rs 3,000 crore in India—a testament to our steadfast commitment," shared Santosh Iyer, Managing Director & CEO of Mercedes-Benz India, in an exclusive interview with PTI.
These investments are earmarked for manufacturing operations, the initiation of new product lines, and the digitization of the manufacturing process, Iyer elaborated.
In a groundbreaking move, Mercedes-Benz India is gearing up for a spree of over 12 launches in 2024, including the introduction of three electric vehicles. Notably, half of these launches will cater to the top-end vehicle segment, with prices starting from Rs 1.5 crore onwards.
Despite market fluctuations in supply and demand, Iyer expressed optimism, aiming for 'double-digit' growth in 2024. Currently, the company boasts an order bank of 3,000 units.
Highlighting the significance of the top-end vehicle segment, Iyer emphasized that the three new electric vehicles slated for 2024 would significantly enrich their electric vehicle portfolio. He noted that electric vehicles contributed to 4% of their total sales in 2023 and witnessed a remarkable threefold growth.
Moreover, Mercedes-Benz India recently debuted its new GLS luxury SUV, available in both petrol and diesel variants priced at Rs 1.32 crore and Rs 1.37 crore, respectively. SUVs dominate 55% of their sales, while sedans account for the remaining 45%.
Looking ahead, Iyer outlined plans to expand their footprint by establishing 20 new workshops across 10 new cities in 2024, aiming to bring customer service closer to their patrons.
Addressing speculations about Tesla seeking special incentives for an Indian plant, Iyer expressed confidence in a level playing field for all manufacturers, welcoming new players into the EV market. He emphasized their support for free trade and imports as long as fairness prevails for both existing and new investments.
Mercedes-Benz's ambitious investments and diversified product lineup underscore its commitment to propel India's luxury automobile sector forward while embracing the evolving landscape of electric mobility.
—Inputs from Agencies