Mercedes-Benz announces a substantial $500 million investment that aligns with the government’s EV policy but with the conditions provided. It proposes a 5% GST for ten years, allowing the company to expand the electric range to six models.
The German luxury automaker Mercedes-Benz has announced its intention to invest a substantial $500 million in the Indian business, a move that aligns with the government’s EV strategy. The company’s proposal of a 5% Goods and Services Tax (GST) on EVs for the next ten years is a strategic step that will enable the company to accelerate the transition to EVs through six models, demonstrating the company’s clear vision and planning.
In response to criticism of the current EV charging infrastructure, the company also proposed that businesses and service providers join together to build a denser network, as infrastructure for electric chargers can also be common and pooled.
The move supports India’s efforts to become carbon neutral. Electrification is the solution, leading to zero emissions and a carbon-free ecology.
In India, Mercedes-Benz pioneered electric vehicle use, and the company plans to increase the number of green cars in its lineup to six. The EQS limousine, EQB MPV, and EQE SUV are currently included in its electric line; they are all assembled at a plant outside Pune. Along with introducing the EQS Maybach and electric G Class SUVs to the market, the business is also preparing to introduce its smallest electric SUV, the EQA.
