German luxury automaker Mercedes-Benz is set to invest ₹200 crore in India in 2024 as part of an aggressive growth strategy, preparing to roll out more than 10 to 12 new vehicles—including three all-electric models—throughout the year.
Electrifying the Future
Mercedes-Benz anticipates that electric vehicles (EVs) will account for 25% of its total sales in India over the next five years, marking a significant pivot toward sustainable, luxury electric mobility in the region.
30 Years of Automotive Excellence in India
This year marks a monumental milestone as Mercedes-Benz celebrates 30 years of operations in India. To honor this legacy and strengthen its local footprint, the company is injecting an additional ₹200 crore into its Pune manufacturing facility, bringing its total cumulative investment in India to ₹3,000 crore.
In a recent interview with PTI, Santosh Iyer, Managing Director and CEO of Mercedes-Benz India, shared that this capital allocation will focus on key operational areas:
Upgrading manufacturing operations
Facilitating new product startups and launches
Digitizing core manufacturing processes
Record-Breaking Performance
The new investment comes on the heels of a landmark year for the brand. Mercedes-Benz achieved its highest-ever annual sales in India in 2023, delivering 17,408 vehicles—a robust 10% growth compared to 2022.
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