German luxury carmaker Mercedes Benz India launched EQA 250+, its 4th BEV (battery electric vehicle) for the Indian market at Rs 66 lakh. It comes with a 70.5 kWh battery and WLTP range up to 560 km. With this offering, the company aims to double its BEV portfolio to 6 models by the end of CY 2024, from the current 3 cars—EQB, EQE SUV & EQS sedan.
“Three of the six new launches in the rest of 2024 will be BEVs. This will double our portfolio from 3 to 6 cars by the end of the year. We remain strategically focused and tactically flexible and are taking all necessary steps to go all electric. Having said that, customer preference and market conditions will set the pace for this transformation,” Santosh Iyer, MD and CEO, Mercedes Benz India said.
He adds that since the residual value of EVs is a growing concern, to address that, the company will offer 67% assured buyback value at the end of 4 years of ownership which is similar to the company’s ICE cars.
According to the company, BEVs grew by 60% in H1 2024 and its penetration stood at 5% of total H1 sales. “We pioneered in the luxury EV segment way back in 2020 with the launch of the EQC. In 2022, we were the first to locally manufacture the EQS in our plant in Pune. There’s a very strong infrastructure that we’re building up comprising of 35 plus ultra-fast DC chargers, 100+ AC chargers and complementary wall box chargers. By the end of 2024, we aim to have more than 1000 charging points,” he adds.
Iyer added that new and updated products, elevated customer experience at retail and ease of ownership, combined with positive customer sentiments; boosted the company’s best-ever H1 sales performance. “With some of the most awaited products lined up for the upcoming festive season, we expect the remaining quarters to continue the forecasted growth. With the EQA and EQB, we are targeting young customers desiring sporty, dynamic, highly intuitive BEVs, which are practical, offering ownership experience better than ICE counterparts,” he said.
While the EQA is Mercedes-Benz’s most successful BEV worldwide, the EQB 350 debuts in a 5-seater configuration, suitable for both city and highway travel. “Our BEV roadmap for India is ambitious, comprising the most versatile BEV portfolio, starting from the EQA up to the upcoming EQS Maybach SUV, by end of the year,” he adds.
At the beginning of this year the company promised 12 new launches. This year started with 3 SUVs: the GLS, the GLE 53 AMG and the GLA. The company is also focussing on expanding its touch points. “Having a wide network is also crucial in enhancing customer experience. In the first half of this year we’ve added 10 new luxury touchpoints across Chennai, Bengaluru, Gurgaon and Mumbai. We will expand to additional 15 touch points by the end of this year,” Iyer noted.
Mercedes benz India has achieved the highest ever Q2 and has also contributed to the best ever H1 in 2024. In the first half of this year, it delivered 9,262 new cars witnessing 9% sales growth over the same period last year. “This reiterates our commitment to the market. Our SUV penetration has grown to 55%. Waiting periods range from 2 months to 1 year for some of these SUVs. Our product launches will continue in H2 with some of the most exciting new launches coming in the next few months. From the high end AMGs and the long-awaited new E-class to exclusive Maybachs, we have a lot of exciting cars coming for India debut,” he said.