Mercedes-Benz to Launch 4 New Electric Vehicles in India Next Year

Mercedes-Benz, the leading German luxury automaker, is set to launch four new electric vehicles in India in 2023. These new models are part of the company's aggressive plan to expand its electric vehicle lineup and capture a significant share of the growing Indian EV market.

In a recent interaction with reporters, Mercedes-Benz head of region overseas Matthias Luehrs expressed contentment with the development of the company's electric vehicles (EVs) in the Indian market such as the EQS and EQB. Luehrs also revealed that four more vehicles are expected to be launched in India.

Mercedes-Benz currently offers four luxury electric vehicle models, namely the EQS, EQB, EQC, and EQS AMG, in the Indian market. When asked about the company's sales expectations from their EV portfolio in India,  Luehrs stated that they are assuming 25 percent of total sales to come from electric vehicles in the next four years. Currently, electric vehicle sales account for around 3 percent of Mercedes-Benz's total sales in India.

Mercedes-Benz India reported a 41 percent increase in its total sales last year, achieving a record 15,822 unit sales, compared to 11,242 units sold the previous year. The company's best sales figures were achieved in 2018 when it sold 15,583 units.

Santosh Iyer, the Managing Director & CEO of Mercedes-Benz India, mentioned that the four new EV models would be introduced in the next 8-12 months. The launch will involve a combination of importing completely built units and importing completely knocked-down units that will be assembled at the company's Chakan plant.

Luehrs, shared that India is currently the fifth-largest market for Mercedes-Benz in the "overseas" region, which includes 120 markets other than Germany, the US, UK, and China. According to the company's rankings in overseas markets, South Korea, Japan, Australia, and Turkey are ahead of India.

However, Luehrs mentioned that it is possible for India to move up the ladder and become the fourth-largest market in the next two years. He expressed optimism about the Indian market and the significant changes that the company has witnessed in the customer base.

March 24, 2023