Mercedes ready to invest $500 mn in Indian EV biz but it has a condition
Mercedes-Benz India MD & CEO Santosh Iyer told the Times of India, «We need to see whether it makes sense… Investments can be done only if the tax advantage of 5% GST on EVs will continue for the next ten years… that gives us confidence.»
Iyer added, «This will prompt us to do a business case to start with. Today, there is no business case.»
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Mercedes-Benz has been an early adopter of electric mobility in India and is working towards expanding its green car portfolio to six models. Currently, its electric range includes the EQS limousine, EQB MPV, and EQE SUV, all assembled at its factory outside Pune. The company is also planning to launch its smallest electric SUV, the EQA, and is firming up plans for the introduction of the EQS Maybach and electric G Class SUVs to the market.
Iyer expressed optimism that the government will continue to support the growth of green mobility in India, primarily through favorable tax structures.
«On our part, we will do everything possible to accelerate the transition to EVs through our six models,» Iyer said.
Addressing the concern of inadequate charging infrastructure for EVs, Iyer suggested that companies and service providers need to collaborate to create a denser network. «Moreover, like the telecom industry and mobile tower sharing, infrastructure for electric chargers can also be common and pooled,» he added.
He emphasized the importance of government support in India's move
