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Mercedes-Benz to manufacture EQS SUV 580 in India
Industry News- Sep 18,24
The EQS SUV 580, which is not yet available in India, features a 122 kWh battery and an impressive range of 809 km on a single charge, with a projected price of Rs 14 million.
German luxury automaker Mercedes-Benz is set to manufacture its EQS SUV 580 in India, marking the first production of this model outside the US. This move underscores the growing local demand for electric vehicles.
Mercedes-Benz India has been producing the EQS sedan locally for the past 18 months, having sold 500 units to date. The EQS SUV 580, which is not yet available in India, features a 122 kWh battery and an impressive range of 809 km on a single charge, with a projected price of Rs 14 million.
Santosh Iyer, MD and CEO, Mercedes-Benz India, highlighted the strategic advantage of offering both the sedan and SUV variants of the EQS range, aiming to enhance sales and provide a comprehensive option for customers.
Iyer also noted that the EQS SUV is the third luxury electric vehicle (EV) launched by the company this year. He emphasized Mercedes-Benz's commitment to the Indian market, supported by an additional investment of Rs 2 million in 2024 for manufacturing, new product introductions, and digital advancements in production. This brings Mercedes-Benz’s total investment in India’s manufacturing sector to Rs 30 million.
The company’s EV lineup in India now includes six models: the EQA SUV, EQB SUV, EQE SUV, EQS SUV, EQS 580 sedan, and the ultra-luxury Mercedes-Maybach EQS 680 SUV. The introduction of the EQA, EQS SUV 580, and Mercedes-Maybach EQS 680 in the first half of 2024 has contributed to a 60% growth in EV sales, with the EV market share doubling from 2.5% at the end of 2023 to 5% in mid-2024.
Mercedes-Benz aims to achieve double-digit growth by year-end, having posted its highest-ever H1 sales with 9,262 vehicles, reflecting a 9% year-on-year increase. Notably, 55% of these sales were SUVs, and 25% were premium vehicles priced above Rs 10 million, with the Maybach segment experiencing a 108% growth.
In a broader trend, luxury carmakers are increasingly focusing on local production. Earlier this year, Jaguar Land Rover (JLR) began assembling CKD units of the Range Rover and Range Rover Sport in India, reducing prices by 18-22%. JLR plans to launch six new EV models in India by 2030, starting with the Range Rover BEV next year.
(Business Standard)
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