Mercedes-Benz Analysis & Growth India has expanded its footprint in Bengaluru with a lease of roughly 4,18,000 sq. ft of workplace area, reflecting the German automaker’s dedication to India as an important market and expertise hub for the automotive sector.
The corporate can pay a lease of INR 72 per sq. foot monthly within the first three years of the lease, in line with a supply with direct information of the deal.
“It leased the area at Brigade Tech Backyard in Whitefield for 10 years with a 15% escalation each three years,” mentioned one other one that was conscious of the transaction.
When contacted, the Brigade Group spokesperson mentioned, “We’re unable to touch upon the transaction.”
The corporate additionally renewed its lease with Embassy Crest in Whitefield from Embassy Property Developments for 60 months on the finish of 2023.
Mercedes-Benz Analysis and Growth India is planning to rent over 1,000 engineers in India within the upcoming yr, as per market info.
Mercedes-Benz is assured that India will quickly grow to be certainly one of its prime three international markets over the following three years.
That is as a result of growing demand for luxurious automobiles within the nation. Presently, India ranks fifth among the many 118 international locations in Mercedes-Benz’s ‘Area Abroad’ technique, which excludes markets comparable to North America, Europe, and China.
In 2023, Mercedes-Benz India achieved its highest ever gross sales report, promoting 17,408 items.
The corporate has set an formidable plan to ascertain itself within the electrical car (EV) market. By 2027, it goals to have one in each 4 automobiles offered in India be electrical.
Lately, the carmaker introduced that it will introduce 12 new fashions to the market this yr, together with three battery electrical automobiles.
Karnataka boasts the best variety of worldwide R&D centres in India, together with these of tech giants like Google, Microsoft, and Walmart.
The state is also called a worldwide hub for technology-based industries, with many corporations trying to increase and set up their presence within the area.
Within the first quarter of 2024, India’s workplace market kicked off on a robust be aware, witnessing a exceptional 35% improve in complete leasing exercise throughout the highest 6 cities when in comparison with the identical interval final yr.
