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Entry of Tesla in India doesn’t worry us at all: Mercedes-Benz

Mercedes-Benz, the leader of the Indian luxury car market, has said that the entry of Tesla “doesn’t worry the company at all” and added that the addition of the American electric giant will only help in strengthening the position of premium green cars in the country.

Martin Schwenk, who leads Mercedes in India, said his company’s business in India remains on a strong footing and faces no apparent threat from the Elon Musk-run auto giant which has been gaining in scale and market capitalisation over the past few years.

Mercedes and Tesla have been competing across various markets, including neighbouring China, the US, and many countries in Europe

Asked whether the entry of Tesla in India is a source of worry for the business of Mercedes, Schwenk said, “Rather it’s the opposite… Entry of any new brand creates additional interest and additional markets. And it’s not only Tesla (that we compete with). There is lots of activity across manufacturers.”

In clear indications that it is finally setting foot in India, Tesla has got an Indian subsidiary registered with the registrar of companies (RoC) in Bangalore and this is called, Tesla India Motors and Energy Pvt Ltd.

Musk has often spoken about his desire to sell cars in India, and recently Union minister Nitin Gadkari said the company will start operations here in 2021 which may include setting up a manufacturing unit.

Source
ET Energy World
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