Luxury carmakers likely to see faster electric vehicle transition

Buyers less price-sensitive; Mercedes, BMW expect double-digit growth

Adopting electric vehicles (EVs) is likely to be faster in the luxury vehicles segment because buyers are less price-sensitive and market leaders like Mercedes-Benz India and BMW India expect double-digit growth in this category.

While Mercedes-Benz India expects 25 per cent of its India sales to come from EVs in the next four years, BMW says it estimates around 10 per cent of sales to come from those in the near future.

Santosh Iyer, managing director and chief executive officer of Mercedes-Benz India, said: “An array of world-class products, convenience of a wide charging network comprising an ultra-fast charging network