Mercedes-Benz India will have more than 12 launches in 2024, including three electric vehicles, out of which half will be in the top end vehicle segment.

The German luxury carmaker will invest Rs 200 crore in India this year. It may be noted that the company posted a record sales of 17,408 units in 2023.

Mercedes-Benz India Managing Director & CEO Santosh Iyer said,"This year marks a special year as we celebrate 30 years of Mercedes Benz in India. We are going to invest Rs 200 crore more into our factory in Pune. This takes a total investment of Rs 3,000 crore in India now. So that's a strong statement of intent."

On the product launch plan, Iyer said, "We are looking at 12-plus new car lines to be launched in '24 and 50 per cent of them will be in the top end vehicle segment. These will include three new electric vehicles." The TEV segment continues to drive aspiration for the brand, Iyer said, adding that three new EVs to be launched in 2024 will build up the company's EV portfolio."

"EVs now comprise 4 per cent of our total sales and the segment witnessed a trebling of growth in 2023," he added.

These investments will be towards manufacturing operations, new product startups and digitisation of the manufacturing process, he added.