In June, the EU and India relaunched talks for a free trade agreement with the aim of completing them by the end of 2023. Talks began in 2007, but were frozen in 2013 due to lack of progress on issues including EU demands for greater access to Indian markets for its cars. A trade deal that puts India in a competitive situation or gives it an advantage over other markets where Mercedes produces cars would “definitely help”, Martin Schwenk said in an interview, when asked about the German firm’s export plans.
Mercedes on Friday launched its first locally built electric vehicle (EV) in India – the EQS 580, a variant of its flagship S-Class sedan, with plans to potentially build more clean cars in the country. “We are aiming in the next 8-10 years, to fully electrify the portfolio and be an electric manufacturer here. The intention is to build the capability now and depending on how demand develops … increase the numbers,” he said, adding the current strategy was not to export.
Read more: https://www.business-standard.com/article/companies/comprehensive-trade-deal-with-eu-could-make-india-an-export-hub-mercedes-122093000946_1.html
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