Two newly launched Mercedes-Benz electric car models are making their way to Thai owners, overcoming challenges in the Thai automotive industry. The German luxury automaker remains confident in its growth within the domestic market, despite experiencing a downturn, attributing this optimism to customer trust in its electric mobility technology and design.
"Thailand is still considered a potential electric vehicle market in the region due to the government's support of the EV industry and supply chains. This policy has contributed to a rapid increase in EV sales volume," said Mr Martin Schwenk, President and CEO of Mercedes-Benz (Thailand).
NEW ATTRACTIONS
The EQE 300, imported from Germany, and the EQS 450 4MATIC SUV AMG Dynamic, the second locally assembled electric sports utility vehicle in Thailand's top-end luxury SUV segment, are set to attract Thai EV enthusiasts. The models are scheduled for delivery to customers, who have already booked the cars, between October and November this year.
Mr Martin Schwenk, President and CEO of Mercedes-Benz (Thailand)
"The EQE 300 is officially priced at 3,970,000 baht, while the EQS 450 4MATIC SUV AMG Dynamic is sold at 5,999,000 baht," said Mr Martin Schwenk.
The EQE 300 is part of the Mercedes-Benz EQE lineup, which includes sedans, SUVs, and high-performance models from Mercedes-AMG. The EQS 450 4MATIC SUV AMG Dynamic is a full-size, 7-seater luxury SUV. Its predecessor, the EQS 500 4MATIC AMG Premium, was the first locally assembled vehicle built on the second-generation electric vehicle architecture platform, commonly referred to as EVA2, which is exclusively designed for electric mobility technology.
The two new models are anticipated to become popular, particularly among potential buyers already familiar with the Mercedes-Benz EV driving experience.
Mercedes-Benz recently held the "StarFest Defining Electric" event, offering Thai customers the opportunity to experience and test drive over 13 models of electric and plug-in hybrid vehicles. This event took place from 24-25 August 2024, at Unformat Studio in Bangkok.
A good driving experience and comfort are crucial in attracting customers; however, according to Mr Martin Schwenk, pricing, instalment programmes, and after-sales services are also important, as they enable buyers to plan their payments more effectively for their desired vehicles.
The purchase of the EQE 300 and EQS 450 4MATIC SUV AMG Dynamic comes with a battery warranty covering 10 years or up to 250,000 kilometres.
The company has also launched the "Worry-Free” package, starting today and running until 30 September 2024, offering special benefits for customers purchasing Mercedes-Benz EVs, including a down payment for all models at 990,000 baht. For the EQE 300, installments start at 39,000 baht per month.
Other benefits include free type-1 insurance (Mercedes-Benz Protection) for 3 years, free periodic maintenance services, and an extended vehicle warranty (MBSP Easy Care & Extra Guarantee) for 5 years. The company is also offering free unlimited DC charging services for 1 year at designated SHARGE charging stations.
ALL-ELECTRIC
Mercedes-Benz plans to market new EVs in three categories: "MB.EA” for medium-size vehicles, "AMG.EA” for performance vehicles, and "VAN.EA” for light commercial vehicles. Large EVs such as the EQE and EQS will use the EVA2 platform, contributing to emission-free transportation and future cities.
In Thailand, to meet the diverse needs and lifestyles of drivers, the company will both import new car models and launch local versions of EVs from a factory operated by Thonburi Automotive Assembly Plant Co., Ltd., according to Mr Martin Schwenk. Mercedes-Benz recently renewed a 10-year agreement with Thonburi Automotive Assembly Plant, reinforcing a long-term partnership in car assembly and battery production. This collaboration supports worldwide circular economy efforts.
The factory currently produces over 13 models of cars across the A-Class, C-Class, E-Class, and S-Class categories. Mercedes-Benz is assisting Thonburi Automotive Assembly Plant in adopting cutting-edge technologies for the production of EVs and also supports Thonburi Energy Storage Systems in producing high-quality batteries.
Mercedes-Benz will continue developing the next generation of EV platforms, following its investment in establishing "eCampus" in Stuttgart, as a hub for high-performance battery cell development and innovative manufacturing processes to enhance battery-making technology.
"We are committed to becoming a key player in driving the EV industry and market in Thailand,” said Mr Martin Schwenk.
AUTO CHALLENGES
Mercedes-Benz is determined to grow further in the Thai automotive market, although competition in the EV sector is intensifying and Thai people are struggling with the sluggish economy. These circumstances make it difficult for the company to predict its 2024 sales, said Mr Martin Schwenk.
However, the company remains confident that through ongoing efforts to develop Mercedes-Benz cars and implement the right marketing strategies, it will continue to see sales growth in the luxury car segment.
The rise of Chinese EV manufacturers raises concerns over market dominance, but this is not a serious issue for the German automaker, as they target different customer groups, according to Mr Martin Schwenk.
"A price war has ensued with the entrance of Chinese EV manufacturers into the market, yet we have refrained from participating in this price cutting," he said. "We uphold our one-price policy, emphasising exceptional care for our Thai customers."
The current slowdown in Thailand's car sales, due to high household debt and weak consumer spending, requires close monitoring, as it presents a challenge in boosting car sales, including the luxury segment, this year.
"We hope the new government will introduce measures to stimulate the economy, which in turn will help increase demand for cars in Thailand," said Mr Martin Schwenk.
