Mercedes-Benz Commits To Investing $24 Million In India

Mercedes-Benz has confirmed that it will be investing $24 million in India in 2024. The announcement comes a few days after Uday Samant, Industries Minister of Maharashtra posted on X (formerly Twitter) that the German manufacturer will be investing ₹30 billion ($360 million) in the state. He made the post after holding discussions with the carmaker’s representatives during his tour to Germany. 

In a statement released by the company it said, “Mercedes-Benz is committed to its current investment plans in India which were announced in January and which foresee an investment of about $24 million this year.”

The Stuttgart-based company also added that it might increase the total sum of investment in the future as well, but that will depend on market conditions.

The company is all set to launch it's most affordable electric car in India - the EQA, and it's likely that the car will be assembled in India, though this has not yet been confirmed by the carmaker. The investment, therefore is likely to go towards expansion of production and bringing in more products to the country.