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German carmaker Mercedes-Benz is aiming for pole position in the Indian luxury electric vehicle market and intends to stay one step ahead of its competitor, Tesla.
This year in India, Mercedes-Benz will launch three new electric cars and set up a fast-charging network across the country. It will also be the first to assemble a luxury electric vehicle in India, which will allow it to offer a competitive price to its competitors due to a lower tax rate of 5% on locally built electric vehicles, compared to 100% on imported models.
Rival Tesla, meanwhile, recently suspended plans to enter the Indian market due to high import taxes on electric vehicles.
Martin Schwenk, Country Manager of Mercedes-Benz, said in an interview with Reuters: “Now we are really starting our aggressive offensive in the electric vehicle market. (…) In the next five years, 25% of our sales [in India] will be electric.”
In anticipation of its plans, Mercedes-Benz will install 140 electric vehicle chargers across the country by the end of the year, including ultra-fast chargers that can charge cars up to 80% in 40 minutes, Schwenk said.
The German carmaker also hopes to manufacture electric vehicle batteries and other components locally once it starts selling “thousands of units, although current volumes are too low to justify such an investment,” Schwenk added.
Globally, Mercedes plans to invest more than €40 billion by 2030 to develop battery electric vehicles.
“Our ambition is to become the market leader in the field of electricity as well,” he said. he says.
Read also > Mercedes-Benz raises annual targets on strong second quarter results
Featured photos : © Mercedes-Benz[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
German carmaker Mercedes-Benz is aiming for pole position in the Indian luxury electric vehicle market and intends to stay one step ahead of its competitor, Tesla.
This year in India, Mercedes-Benz will launch three new electric cars and set up a fast-charging network across the country. It will also be the first to assemble a luxury electric vehicle in India, which will allow it to offer a competitive price to its competitors due to a lower tax rate of 5% on locally built electric vehicles, compared to 100% on imported models.
Rival Tesla, meanwhile, recently suspended plans to enter the Indian market due to high import taxes on electric vehicles.
Martin Schwenk, Country Manager of Mercedes-Benz, said in an interview with Reuters: “Now we are really starting our aggressive offensive in the electric vehicle market. (…) In the next five years, 25% of our sales [in India] will be electric.”
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German carmaker Mercedes-Benz is aiming for pole position in the Indian luxury electric vehicle market and intends to stay one step ahead of its competitor, Tesla.
This year in India, Mercedes-Benz will launch three new electric cars and set up a fast-charging network across the country. It will also be the first to assemble a luxury electric vehicle in India, which will allow it to offer a competitive price to its competitors due to a lower tax rate of 5% on locally built electric vehicles, compared to 100% on imported models.
Rival Tesla, meanwhile, recently suspended plans to enter the Indian market due to high import taxes on electric vehicles.
Martin Schwenk, Country Manager of Mercedes-Benz, said in an interview with Reuters: “Now we are really starting our aggressive offensive in the electric vehicle market. (…) In the next five years, 25% of our sales [in India] will be electric.”
[…][/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Ftest2023.luxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…
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