Mercedes-Benz plans to introduce 4 EVs in India by 2024

Mercedes-Benz, a German-based luxurious brand, is all set to promote electric vehicles (EVs) in India as the nation’s desire for zero-emission vehicles grows.

Head of Region Overseas's statement

For the next 8-12 months, the premium automaker plans to launch four more EV models. The company made this decision in an effort to enhance sales in India, where they achieved a spectacular 41% increase in 2022, according to Matthias Luehrs, Head of Region Overseas at Mercedes-Benz AG.

By 2027, the company predicts that electric vehicles will account for 25% of all sales made in India.

Luehrs spoke with the media by stating, “With (models like) the EQS and the EQB, we are pleased with how our EVs (electric vehicles) are progressing on the Indian market. Four further vehicles will be arriving.”

The company presently offers four premium electric car models in the Indian market: the EQS, EQB, EQC, and EQS AMG. Presently, 3% of the company's entire sales in India are made up of EV sales.

Mercedes-Benz India reported a 41% increase in total sales in the year 2022, with a record 15,822 cars sold compared to 11,242 units sold in the year 2021. Its previous record-breaking sales were set in 2018 at 15,583 copies.

Position of India for Mercedes-Benz

According to Luehrs, the potential for this market makes India the fifth largest market for Mercedes-Benz in the "overseas" region, which includes 120 markets except for Germany, the US, the UK, and China.

He further responded that it might be possible for India to advance up the ladder in the following two years.
When asked why the company is so positive about India, Luehrs responded, "The elements which make us quite confident is that we have observed a major change in the structure of consumers in India."

The average age of buyers of the company's top-of-the-line sedan S Class is currently 38 years old, while that of the C Class vehicle is 35 years old. "That's 10 years younger than 10 years ago... and we have a 15% female customer share, which is 10% more than 10 years ago," he added, adding that Indian customers were also very quick to accept new technology the company offered.

Further Plans for Mercedes Benz

According to Luehrs, the company has adopted an agency model in which cars are sold to customers at a set price, and dealers are rewarded with a fixed amount for delivering the car. Here, dealers are not required to maintain inventory, and purchasers are satisfied because they may buy the car for the same price all throughout India.

Further, he stated that the business exclusively focuses on EVs and not the development of hybrid vehicles when it comes to renewable fuels.