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, stated, "This year is special as we are celebrating the completion of 30 years of Mercedes-Benz in India. We are planning to invest 200 crore rupees in our plant in Pune. With this, our total investment in India will reach 3,000 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.
Regarding new products, Iyer stated, "We are contemplating the launch of more than 12 new cars in 2024, with 50% of them being SUVs. Among them, three new electric vehicles will be included. Also he mentioned that despite the volatility in supply and demand, the company is hopeful of achieving double-digit growth. Currently, the company has bookings for 3,000 vehicles."
