The sum of investment can further expand depending on market conditions.
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The sum of investment can further expand depending on market conditions.
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.
आज जर्मनी दौऱ्यावर असताना मर्सिडिझ बेंझ कंपनीच्या प्रतिनिधीसोबत बैठक झाली. मर्सिडिझ बेंझ ही कंपनी यावर्षी महाराष्ट्रामध्ये 3000 कोटींची गुंतवणूक करणार आहे. यामुळे महाराष्ट्रात उद्योगधंद्यांसह रोजगारात मोठ्या संख्येने वाढ होणार आहे. यासंदर्भात आज चर्चा झाली. यावेळी मर्सिडीज… pic.twitter.com/w6xMBbhj47
— Uday Samant (@samant_uday) June 13, 2024
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.
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