German luxury car maker Mercedes-Benz has just launched the EQS SUV that is assembled locally in India, which is now the second country to assemble the EQS SUV outside the US. The made-in-India luxury electric vehicle has a price of 1.41 crores.
The automobile giant has already been manufacturing the EQS sedan in India and has sold around 500 units, according to reports.
Mercedes-Benz will reportedly make an additional investment of Rs 200 crore in 2024 for manufacturing operations, new product launches and digitization of manufacturing processes in India.
Santosh Iyer, MD and CEO, Mercedes Benz India, said localization of the EQS SUV "manifests our local competencies, creates value for Indian customers and supports the government's vision of 'Make in India'."
In May this year, Tata Motors-owned Jaguar Land Rover (JLR) said it plans to start assembling the flagship Range Rover model, along with the Range Rover Sport, in India for the first time, significantly reducing prices.
The company's plant in Pune currently assembles the Range Rover Velar, Range Rover Evoque, Jaguar F-PACE and Discovery Sport models. Range Rovers assembled in India will be available for delivery later this month, while the Range Rover Sport will hit the market in August.
According to N. Chandrasekaran, Chairman of Tata Sons, the local assembly of the flagship models marks a turning point for the Indian subsidiary and shows the confidence that the company has in the market.
According to industry data, the sale of luxury cars from brands such as Lamborghini, Ferrari, McLaren and Aston Martin is experiencing strong demand in the Indian market. According to a latest wealth report by Knight Frank, there are likely to be more ultra-rich individuals in India, with those with a net worth of more than $30 million reaching 19,908 in 2028, up from 13,263 in 2023.
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The automobile giant has already been manufacturing the EQS sedan in India and has sold around 500 units, according to reports.
Mercedes-Benz will reportedly make an additional investment of Rs 200 crore in 2024 for manufacturing operations, new product launches and digitization of manufacturing processes in India.
Santosh Iyer, MD and CEO, Mercedes Benz India, said localization of the EQS SUV "manifests our local competencies, creates value for Indian customers and supports the government's vision of 'Make in India'."
In May this year, Tata Motors-owned Jaguar Land Rover (JLR) said it plans to start assembling the flagship Range Rover model, along with the Range Rover Sport, in India for the first time, significantly reducing prices.
The company's plant in Pune currently assembles the Range Rover Velar, Range Rover Evoque, Jaguar F-PACE and Discovery Sport models. Range Rovers assembled in India will be available for delivery later this month, while the Range Rover Sport will hit the market in August.
According to N. Chandrasekaran, Chairman of Tata Sons, the local assembly of the flagship models marks a turning point for the Indian subsidiary and shows the confidence that the company has in the market.
According to industry data, the sale of luxury cars from brands such as Lamborghini, Ferrari, McLaren and Aston Martin is experiencing strong demand in the Indian market. According to a latest wealth report by Knight Frank, there are likely to be more ultra-rich individuals in India, with those with a net worth of more than $30 million reaching 19,908 in 2028, up from 13,263 in 2023.
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