German luxury car manufacturer Mercedes-Benz has completed 30 years in the Indian market. On this occasion, the company has made a significant announcement, stating that it plans to invest INR 200 crores in India this year.
This investment will be directed towards introducing new products, manufacturing operations, and digitalization.
A senior executive of the company revealed on Monday that they achieved a record by selling 17,408 cars in India last year.
Mercedes-Benz India is set to introduce more than 12 new vehicles in the market in 2024, including three electric vehicles (EVs). Half of these models will belong to the top vehicle segment, with a price exceeding 1.5 crore rupees.
Santosh Iyer, Managing Director and CEO of Mercedes-Benz India, highlighted that the allocated investments will focus on manufacturing, new product startups, and the digitization of manufacturing processes.
Iyer emphasized that the company attained its highest-ever sales record in India last year, experiencing a remarkable 10% growth. Prior to this achievement, Mercedes-Benz's peak sales were recorded at 15,822 units in 2022.