Akshata Sharma
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German luxury carmaker Mercedes-Benz said it is ready to invest the mandated $500 million in its Indian business.
However, the carmaker has made one condition before making this investment.
The company said it will only invest the mandated amount, as prescribed in the EV policy, if the 5% GST on EVs stays for the next ten years, TOI reported.
Mercedes-Benz has been an early adopter of electric mobility in India and is actively expanding its green car portfolio to include six models.
Its current electric lineup features the EQS limousine, EQB MPV, and EQE SUV, all assembled at its factory outside Pune.
The company also plans to launch its smallest electric SUV, the EQA and is finalizing plans to introduce the EQS Maybach and electric G Class SUVs to the market.
Notably, Mercedes-Benz India sold 9,262 units in the first half of 2024, marking its highest-ever half-yearly sales in the country.
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