Mercedes allocates USD 24 million investment for India in 2024
BMW seeks tariff relief for China-made electric MINI vehicles
Global car giant Mercedes-Benz once again affirmed its commitment to India with the planned investment amount of USD 24 million in 2024. The company has indicated that any additional investments would depend on market factors. This statement came after Industries Minister of Maharashtra, Uday Samant, suggested on X that the auto giant planned to pour 30 billion rupees (USD 360 million) into the Indian state.
The minister said officials talked with the representatives of the car producer during his recent visit to Germany. Mercedes-Benz sought to dispel the confusion, reiterating its commitment to the previously announced investment plans for the country where it aims to spend roughly USD 24 million in the current year. Subsequent investment decisions will be informed by market demands.
Also Read:Tata Power Renewable Energy installs 850+ E-Bus charging points
In a separate development, Mercedes-Benz and Stellantis have paused their collaborative efforts on European EV battery factory projects. This decision has led to a reassessment of their strategic direction, including a potential shift to more cost-effective lithium iron phosphate (LFP) cells.
In 2021, Mercedes-Benz and Stellantis formed the Automotive Cells Company (ACC), a joint venture aimed at producing EV batteries. Earlier this year, ACC successfully raised USD 4.7 billion, with plans to increase this to EUR 7.6 billion to establish four factories. The first factory in Douvrin, France, is already operational.
However, according to media reports, work on ACC’s upcoming factory in Germany has stopped, and preparatory work on a site in Italy has been paused. Despite these halts, ACC has not yet made a final decision regarding the future of these sites. The company plans to stay flexible and responsive to market trends, with a final decision expected by the end of the year.
&im=FitAndFill=(700,400))
National Handloom Day 2026: From Alia Bhatt to Samantha Ruth Prabhu; Actresses who celebrated India's textile heritage as brides
)
The Royals enter the Doctor Who universe: King Charles and Queen Camilla beam into Commonwealth Games in TARDIS
)
Unitree Robotics targets $9 billion valuation in landmark IPO backed by DeepSeek and Tencent
)
India names 27 sites in Arunachal Pradesh
)
Bharat Bhhagya Viddhaata OTT: When will Kangana Ranaut's film stream online?
&im=FitAndFill=(700,400))
How many soldiers operate one S-400 battery?
)
Shakib Al Hasan ready to return to Bangladesh—under one condition
)
‘Fake news’: MEA rejects report claiming India sought defence pact with Israel after Pakistan, Saudi Arabia, Turkey deal
)
Rockstar to unveil GTA 6 extended look ahead of November launch
)
Russia forms Ukrainian Volunteer Spetsnaz Brigade to fight Ukraine
)
Drug-resistant fungus that hides in hair and enters bloodstream reported in 23 US states
)
Technology transfer deal boosts India's defence manufacturing ambitions
)
Border row erupts in Europe after Ceuta crossings, Spain imposes border controls on Italy
)
Morale plummets on USS Abraham Lincoln: Are US sailors reaching a breaking point? | GRAVITAS
)
'Security can't be bought with Pakistan, Turkey deal': Iran tells Saudi Arabia
)
Baba Vanga's 2026 prophecy: 2 predictions 'already came true', 3 terrifying ones remain. Details inside
)
Colombia’s new president Abelardo de la Espriella vows to ‘defeat narco-terrorists’, signals hardline shift
&im=FitAndFill=(700,400))
New Friday OTT releases (August 7, 2026): Operation Safed Sagar, Vadhandhi, Main Vaapis Aaunga- 6 movies and TV shows on Netflix, Prime Video and more
)
Squadron Leader Bhawana Kanth scripts history as Indian Air Force gets its first woman ‘Top Gun’ pilot
)
RSS says Gen Z protests reflect genuine distress
)
Trump says Iranian school bombing photos could be AI-generated - 'I don’t think...'
)
IAF officer held for sharing sensitive information in 'honey trap' case, booked under Official Secrets Act
)
Stray Kids under scrutiny? Fans react to Grammy submission silence after BTS boycott
&im=FitAndFill=(700,400))
Why the Su-30MKI doesn't need external fuel tanks to fly vast distances
)
Jugal Hansraj reunites with Shekhar Kapur after 40 years for Masoom: The Next Generation
)
New speed limits, automatic challans: Big traffic change coming to Delhi-Meerut Expressway. All you need to know
)
India officially names 27 places in Arunachal to counter China's renaming claims
)
Trump calls White House ballroom ruling a 'national disgrace' as court says Congress approval needed
)
US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance
&im=FitAndFill=(700,400))
Why the Su-30MKI is one of the heaviest fighters ever built
)
Uttarakhand young innovator builds India's own flying vehicle, conducts first test flight: WATCH
)
Chilling video shows students take cover as teen opens fire at Thai school
)
Reese Witherspoon's father hospitalised after poolside incident in Nashville: Report
Yann Vincent, head of ACC, cited a slowdown in EV demand in Europe as a reason for the reassessment. Although EV sales in Europe increased by 14.8% year over year in April, this growth was slower compared to conventional hybrids. Vincent noted that significant growth is expected in the mass-market segment, an area where Western EV makers have struggled but Chinese automakers are beginning to gain traction.
