The German luxury automaker Mercedes Benz, encouraged by the consistent demand for these vehicles, has solidified plans to produce a second electric vehicle domestically. Santosh Iyer, Managing Director of Mercedes-Benz India, stated to ET that electrification is now the only option for emission-free mobility. Additionally, Mercedes Benz penetration by offering our clients a range of electric vehicle prices. We are able to price the EQS SUV 580 competitively since it will be our second locally assembled electric car.
The cost of the EQS SUV 580 is Rs 1.41 crore. The only market outside of the US where the EQS SUV 580 will be locally assembled is India. Fully built-up units (CBU) are subject to a maximum 110% customs charge, but locally assembled cars made from knocked down kits (CKD) only pay a 15% duty.
Mercedes Benz Expanding in EV Market
Now that the Mercedes Benz EQS SUV 580 has been released, the corporation offers six EVs for sale in the nation. SUVs now make up about 55% of all automobiles sold in India. Thus, it made sense that we would launch an electric SUV. With these launches, we anticipate a steady growth in the percentage of electric vehicles in our portfolio,” Iyer stated. Over the first half of the current calendar year, over CY2023, Mercedes Benz has experienced a doubling of the penetration of electric vehicles in its total sales. During this time, the company’s EV sales increased by 60%, while overall volumes increased by 9% to 9,262 units.
