India fastest growing market for Mercedes-Benz in the last few years: CEO Ola Kallenius
India has been a “tremendous success” for Mercedes-Benz in the last few years and the company is revving up to invest in infrastructure and drive in the “right products” to participate in the growth story of the country, Ola Kallenius, chairman of the board of management at Mercedes Benz AG, told ET.
Kallenius, who visited India earlier this year to review operations and meet policymakers and industry leaders, said: “We had a very constructive meeting (in India). And you get a sense in India, it's like the 21st century belongs to India.
There is such a buzz, such a pulse. The country is on the move … We're ready.
If the Indian market takes off even faster, we're going to be there.”
The company sold 15,822 vehicles in India in 2022, up 41% from the year before and its highest annual sales on record in the South Asian country. The German automaker, which has a share of nearly 50% in the luxury vehicle segment in India, is now on track to report record sales for the second straight year in the Indian market in 2023.
The Indian market can grow many-fold in the long term, considering the demographic dividend, along with progressive policies to promote electrification, Kallenius said.
To be sure, high-tech internal combustion portfolio is the mainstay currently for the company, but he said “the future is going to be electric in India as well”.
Mercedes-Benz India sells four electric car models in the local market.
“It’s not going to be a straight line and we have to run the whole marathon, but we have already started investing also in Mercedes-Benz charging infrastructure in India to offer (charging stations to) our customers at the right spots,” he said.
Mercedes-Benz globally is looking at introducing four all-electric
