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Mercedes-Benz to invest US$ 24 million locally
Economic Times, 14 Jun '24

Headlines 17 Jun 2024


Mercedes-Benz has reaffirmed its investment plan for India, stating it will allocate US$ 24 million in 2024.

The company noted that any further increase would be contingent on market conditions. These remarks were made after Maharashtra's Industries Minister, Uday Samant, mentioned on social media that the automaker would invest Rs. 30 billion (US$ 360 million) in the state.

Samant's comment came following his discussions with Mercedes-Benz representatives during his visit to Germany.

"Mercedes-Benz is committed to its current investment plans in India which were announced in January, and which foresee an investment of about US$ 24 million this year," Mercedes-Benz said in a statement.

"Any further investments will depend on market demand," it further added.

In January, Mercedes-Benz had already announced its US$ 24 million investment in India for 2024.