The Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) will serve as a major catalyst for new foreign automakers to enter the Indian EV market, said Santosh Iyer, CEO and Managing Director of Mercedes-Benz India, on Friday.
Speaking to PTI after unveiling two high-performance sportscars — the AMG GT 63 4MATIC+ and the AMG GT 63 PRO 4MATIC+ Coupe — Iyer welcomed the scheme, calling it a “forward-looking initiative” by the Ministry of Heavy Industries. The two cars are priced at ₹3 crore and ₹3.65 crore (ex-showroom, India), respectively.
“The scheme is primarily designed for new entrants. We’ve been in India for three decades and have already invested ₹3,000 crore in our Chakan plant near Pune. We’re producing two EVs locally even before the scheme was announced,” Iyer told PTI. “For us, it’s business as usual, but SPMEPCI will encourage new players to enter and invest in India’s EV journey.”
Under the SPMEPCI scheme, automakers committing ₹4,150 crore in local manufacturing will be allowed to import up to 8,000 electric vehicles at a concessional 15% import duty, significantly lower than the existing 70–100per cent.
Supply chain challenges
Addressing concerns around supply chain challenges and rare earth magnets, Iyer reassured that Mercedes-Benz has faced no disruptions in India so far, crediting its global backend teams for effective management.
On the launch of the new AMG models, Iyer said these performance-oriented vehicles reaffirm the brand’s commitment to Indian enthusiasts. “The AMG GT range is a symbol of engineering precision, raw performance, and emotional connect. Indian customers have shown immense appreciation for AMG’s high-performance legacy,” he added.
