Mercedes Aims Triple-Digit Sales For EQS Maybach SUV; India Fastest-Growing Market For Maybach

Mercedes-Benz on Thursday launched its flagship electric car in India – the Maybach EQS 680 SUV at Rs 2.25 crore (ex-showroom) and a top company official said the brand expects to sell more than a hundred units of the car this financial year.  

“India is among the top 10 markets and the fastest growing market for Maybachs in the world,” Santosh Iyer, CEO and MD of Mercedes-Benz India told NDTV Auto. Our existing customers were asking for this car and we expect to sell the EQS 680 Maybach SUV in triple digits, Iyer added. Mercedes-Benz has sold around 1,500 units of Maybach in India so far.

The recently launched EQS Maybach SUV is the first-ever all-electric Maybach. The Maybach portfolio also has S-Class and GLS in the ranks. Additionally, Mercedes has a line-up of five electric cars in India: EQB, EQB, EQE, EQS sedan and EQS 680 Maybach. The company is showing clear intentions of affirming its position as the top player in BEVs (battery electric vehicles) and top-end luxury offerings.   

Mercedes-Benz received a strong response for EQG in India, which was showcased earlier this year. “We already have more than 80 bookings for EQG, which will be priced around Rs 3 crore (ex-showroom). That clearly shows a lot of demand in the top-end segment for electric cars as well,” Iyer said. Mercedes EQG is expected to arrive in India early next year.

Policies and incentives play an important role in the adoption of EVs, however, the top company official said Mercedes is confident of growth in the segment. “The electric vehicle penetration for the brand last year was 2.5 per cent. By the end of H1 of FY25, it has already risen to 5 per cent. The entire ecosystem is developing fast with all the manufacturers' offerings on sale, the narrative is singular,” Iyer said. 

EQS sedan, priced upwards of Rs 1.62 crore (ex-showroom), Iyer said, is the company's best-selling EV in India. “Technology used behind electric vehicles is expensive. For customers, it is often a leap of faith. Our top-end customers are well-travelled, and these cars are also a status symbol. We will continue with a top-down approach for EVs in India,” Iyer said.