Mercedes Rules Out Joining EV Duty Exemption Scheme

Suited for new entrants, says automaker

- NITIN KUMAR

MERCEDES-BENZ INDIA has ruled out participating in the government's electric policy, which offers lower customs duties for completely built units (CBUs).

Santosh Iyer, MD & CEO of Mercedes-Benz India, told FE on Tuesday that the scheme is better suited for new entrants, not established players like Mercedes-Benz, which already has a local assembly plant.

"We were the first to locally produce EVs in India. We make two EVs in Pune.

"For us, investing more just to claim duty exemptions doesn't make sense," he said, while welcoming the policy as a way to foster greater competition and technology sharing.