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).
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).
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.
