Mercedes-Benz to Invest Rs 200 Cr in India, to Make 12 Launches in 2024

New Delhi: Mercedes-Benz has decided to invest Rs 200 crore in India in 2024 on new products, manufacturing operations and digitization. The Rs 200 crore investment will be made in its factory in Pune taking the total investment to Rs 3,000 crore. The German luxury carmaker wants to expand its business in India following its record sales of 17,408 units in 2023.

In 2024, Mercedes-Benz India would have more than 12 launches. Some of these vehicles meant for the top end customers will be priced more than Rs 1.5 crore. The company also plans to launch three electric vehicles (EVs) in India.

Mercedes-Benz India Managing Director & CEO Santosh Iyer said in an interview that the company is looking for “double-digit” growth.

In 2023, the company recorded its best-ever sales in its history in India with 17,408 units and a growth of 10 per cent over sales of 15,822 units in 2022.