Mercedes-Benz India is set to introduce three new electric vehicles (EVs) in 2024, aiming for 25% of total sales to come from EVs within the next four years. The luxury automaker reported a significant growth in EV sales, which tripled in 2023, constituting 4% of its overall volumes. The forthcoming EV models include the EQB SUV, EQE SUV, and EQS sedan. Mercedes-Benz India, commanding a substantial 48% market share in the country’s premium car market, plans to invest ₹200 crore this year, expanding its service network with the inauguration of 20 workshops and entry into 10 new cities in 2024.
The company’s focus remains on the top-end vehicle (TEV) segment, which contributed around 25% of its sales in the previous year. Lance Bennett, Vice President of Sales & Marketing, emphasized the strategic importance of growing the TEV segment. To strengthen its SUV portfolio, Mercedes-Benz also launched the new GLS, featuring both diesel and petrol variants with 6-cylinder engines and 48V mild hybrid technology.
While expressing optimism about the transition to EVs, Mercedes-Benz India’s Managing Director and CEO, Santosh Iyer, highlighted the current competitive pricing of EVs due to the 5% Goods and Services Tax (GST). He believes that maintaining this incentive will accelerate the shift towards electric mobility in the country.