Adopting electric vehicles (EVS) is likely to be faster in the luxury vehicles segment because buyers are less price-sensitive and market leaders like Mercedes-Benz India and BMW India expect double-digit growth in this category.
While Mercedes-Benz India expects 25 per cent of its India sales to come from EVs in the next four years, BMW says it estimates around 10 per cent of sales to come from those in the near future.
Santosh Iyer, managing director and chief executive officer of Mercedes-Benz India, said: "An array of world-class products, convenience of a wide charging network comprising an ultra-fast charging network across main Indian cities, and supporting government policies towards green mobility have given a boost to the adoption of luxury EVs."
Iyer added: "We believe the luxury car segment will remain in the forefront of this EV adoption."
This story is from the January 11, 2023 edition of Business Standard.
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This story is from the January 11, 2023 edition of Business Standard.
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