Mercedes slashes prices of EVs by up to ₹27 lakh in this country

After the reduction, the EQE model is priced at 478,000 Yuan (approx. ₹55 lakh), while the EQS model is priced at 956,000 Yuan (approx. ₹1.09 crore).

Published on: Nov 17, 2022, 16:41:27 IST

By HT News Desk, New Delhi

Prefer HTon Google

Share via

Copy link

Mercedes Benz has slashed the prices of its two electric car models in China, reducing the cost by as much as 235,000 Chinese Yuan or $33,000 (approx. ₹27 lakh).

Mercedes logo (Used only for representation/AFP)

In a statement, the German manufacturer said that effective Wednesday, it was reducing the cost of some models in its EQ range, adding that subsidies would be provided to customers who purchased these models in recent days.

According to Bloomberg, which said the price cut was immediate, Mercedes EQE was priced at 478,000 Yuan or $67,675 (approx. ₹55 lakh) on the company's Chinese website on Wednesday morning; earlier, the model was priced at 528,000 Yuan or $75,000 (approx. ₹60 lakh).

Similarly, the EQS luxury edition model was listed at 956,000 Yuan or $136,000 (approx. ₹1.09 crore), down from the earlier 1.19 million Yuan or $1.7 lakh (approx. ₹1.36 crore). This translates to a reduction of around ₹27 lakh.

Why the price cut?

Mercedes, in its statement, did not say why it took this decision. However, as per Bloomberg, which quoted unnamed sources, this was done because the company's sales in China have been 'disappointing.'

At times, the number of EQS unit delivered per month have come down to as low as only 100, the sources said.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Get the latest Car and Bike News, new launches, upcoming vehicles, reviews, prices, features and comparisons. Stay informed about everything happening in the automobile industry.