Mercedes lines up Rs 200 cr investment

New Delhi: German luxury carmaker Mercedes-Benz will invest Rs 200 crore in India this year on new products, manufacturing operations and digitisation, to strengthen its position after posting record sales of 17,408 units in 2023, a top company official said on Monday.

Mercedes-Benz India will have more than 12 launches in 2024, including three electric vehicles, out of which half will be in the top end vehicle segment (TEV) and will be priced Rs 1.5 crore onwards.

“This year marks a special year as we celebrate 30 years of Mercedes Benz in India. We are going to invest Rs 200 crore more into our factory in Pune. This takes a total investment of Rs 3,000 crore in India now. So that’s a strong statement of intent,” Mercedes-Benz India Managing Director & CEO Santosh Iyer told PTI in an interview. These investments will be towards manufacturing operations, new product startups and digitisation of the manufacturing process, he added.