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NEW DELHI: As Tesla prepares to enter India, Mercedes-Benz – one of its global rivals and India’s top luxury seller – has said the market for electrics will grow with new players, adding that its EV charging stations will be open to cars of the American giant.
“Our EV charging bays will be open for Tesla cars, just like they are for an EV of any other brand,” Santosh Iyer, MD & CEO of Mercedes in India, told TOI as he spoke about the entry of new brands in the country.The company sells electrics across its dealerships and has a total of 116 charging stations spread across 36 locations.
Mercedes, which announced its highest quarterly numbers in Jan-March, 2024 period at 5,142 units (15% growth), will be beefing up its green line-up by driving in three electrics this year.
Iyer said the company has no reasons to be threatened by Tesla, considering that the price points that the Elon Musk-run company is reportedly targeting are much lower to their car prices. Also, he said that any new player will end up expanding the electric market, rather than competing with other brands. “New entrants will only expand volumes in different segments and grow the market.”
EVs had a 7% share (350 cars) in the Q1 sales of Mercedes India, and Iyer said this is expected to go up to as much as 25% “and even more” by 2030. “Our EV portfolio clocked a robust 130% YoY growth in Q1 with a strong response to the EQE SUV, in addition to the EQB SUV and the top-end EQS luxury sedan. We plan to launch three new electrics and double our green portfolio by the close of this year.” Asked whether the company will apply for benefits under new EV policy that promises lower import duty to companies that commit $500 million investments in greens, he said it will wait to get more details.
“Our EV charging bays will be open for Tesla cars, just like they are for an EV of any other brand,” Santosh Iyer, MD & CEO of Mercedes in India, told TOI as he spoke about the entry of new brands in the country.The company sells electrics across its dealerships and has a total of 116 charging stations spread across 36 locations.
Mercedes, which announced its highest quarterly numbers in Jan-March, 2024 period at 5,142 units (15% growth), will be beefing up its green line-up by driving in three electrics this year.
Iyer said the company has no reasons to be threatened by Tesla, considering that the price points that the Elon Musk-run company is reportedly targeting are much lower to their car prices. Also, he said that any new player will end up expanding the electric market, rather than competing with other brands. “New entrants will only expand volumes in different segments and grow the market.”
EVs had a 7% share (350 cars) in the Q1 sales of Mercedes India, and Iyer said this is expected to go up to as much as 25% “and even more” by 2030. “Our EV portfolio clocked a robust 130% YoY growth in Q1 with a strong response to the EQE SUV, in addition to the EQB SUV and the top-end EQS luxury sedan. We plan to launch three new electrics and double our green portfolio by the close of this year.” Asked whether the company will apply for benefits under new EV policy that promises lower import duty to companies that commit $500 million investments in greens, he said it will wait to get more details.
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