Bengaluru-headquartered Mercedes-Benz Research & Development India has lengthened its presence in Bengaluru with acquiring 4, 18,000 square feet of office space for a lease. This acquirement of the German automaker’s unwavering dedication to India as a key market & talent core for the Global Automotive sector. As per the sources subjected to this deal, the venture signed up that it will pay a rent amount of Rs.72 per square foot monthly in the first 3 years of the lease.
A spokesperson aware of the acquirement deal said, “It leased the space at Brigade Tech Garden in Whitefield for 10 years with a 15 percent escalation every three years”. To mention specifically, as per the market data & sources, Mercedes-Benz Research and Development India is forecasting to employ more than 1,000 Indian engineers in the upcoming year.
Also, the company renewed its lease with Embassy Crest in Whitefield from Embassy Property Developments for about 60 months at the end of the 2023.The company is bullish that the days are near where India will become one of the most prominent foreign markets within three years.
This statement comes from the robust demand for luxury cars in the nation. At present, India positions fifth place among the 118 countries in the ‘Region Overseas’ policy of the Mercedes-Benz, which omits Europe, China & North America. In the year 2023, Mercedes-Benz India has reached its maximum sales record ever by selling 17,408 units.
By the year 2027, the company has set a determined plan to launch its footprints in EV market & aims to hold one in every four vehicles purchased in India be an Electrical vehicle.
The Carmaker recently announced that it would introduce launch 12 fresh & novel models to the market by the end of this year including battery-based electric vehicles. As of now, the city Bengaluru holds the greatest number of global Research & Development centers in India.
In such case, it has key tech giants including Microsoft, Google, & Walmart. As the city is recognized as international hub for tech-based businesses & sectors, many prominent players are planning to establish & expand their footprints in the region.
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