Mercedes-Benz: The German luxury carmaker, is all set to expand its electric mobility drive in India by launching four new electric vehicles (EVs) in the next 8-12 months. The company currently sells four luxury EV models in the Indian market, including EQS, EQB, EQC, and EQS AMG. The company’s Managing Director & CEO, Santosh lyer, stated that the new four EV models would be launched as a combination of the import of completely built units and the import of completely knocked down units assembled at the company’s Chakan plant. The company expects 25% of its total sales in India to come from EVs by 2027.
Mercedes-Benz Optimistic About India’s EV Market
According to Mercedes-Benz India’s Vice President, Santosh lyer, India is the fifth-largest market in the “overseas” region for Mercedes-Benz. However, the company is optimistic that India could become the fourth largest market in the next two years, thanks to the big change in the structure of customers in India. The average age of the buyers of the company’s top-end sedan S Class is 38 years, and that of the C Class model is 35 years. This is 10 years younger than 10 years ago, and the customers in India are very quick and keen to adopt new technologies that the company offers.
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Regulatory Challenges and Taxation
Mercedes-Benz has been operating globally for 100 years, and according to the company’s Vice President, regulatory challenges are nothing new. The company has been adapting to regulatory changes in different markets for years, including India, China, the US, and Europe. Santosh lyer also commented on the impact of high taxation on the growth of the luxury car market in India. While higher taxes prevent selling more cars or goods, he added that any market with fewer taxes sells more cars. However, he also mentioned that every market has its own peculiarities, and taxes are just one of the factors affecting car sales.
Conclusion
Mercedes-Benz’s plan to launch four new electric vehicles in India is a positive development for the Indian EV market. The company’s optimism about India’s potential to become the fourth-largest market in the overseas region is a promising sign. Regulatory challenges and high taxation are factors that can hamper the growth of the luxury car market in India, but Mercedes-Benz has been operating globally for a century and is confident in its ability to adapt to regulatory changes.
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