Mercedes-Benz Research and Development India is planning to hire over 1,000 engineers in India in the upcoming year. The company has expanded its presence in Bengaluru by leasing approximately 418,000 square feet of office space, emphasizing its commitment to India as a valuable market and talent hub for the automotive sector. As per sources, the company will pay a rent of INR 72 per square foot per month in the first three years of the lease. The lease is for 10 years with a 15% escalation every three years. Mercedes-Benz also renewed its lease with Embassy Crest in Whitefield from Embassy Property Developments for 60 months at the end of 2023. Mercedes-Benz is confident that India will be one of its top three foreign markets over the next three years. This is due to the growing demand for luxury cars in the country. Currently, India ranks fifth among the 118 countries in Mercedes-Benz’s ‘Region Overseas’ strategy, which excludes markets such as North America, Europe, and China. In 2023, Mercedes-Benz India achieved its highest ever sales record, selling 17,408 units. The company has ambitious plans to establish itself in the electric vehicle (EV) market and aims to have one in every four vehicles sold in India be electric by 2027. Recently, the carmaker announced that it would introduce 12 new models to the market this year, including three battery electric vehicles. Karnataka boasts the highest number of international R&D centres in India, including those of tech giants like Google, Microsoft, and Walmart.
