Two newly launched electric car models from Mercedes-Benz are on their way to Thai owners, navigating challenges within the Thai automotive industry. The German luxury automaker is optimistic about its growth in the domestic market, despite a downturn, citing strong customer trust in its electric mobility technology and design.
“Thailand remains a promising electric vehicle market in the region, supported by government initiatives for the EV industry and supply chains. This favorable policy has led to a significant increase in EV sales,” stated 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 high-end luxury SUV segment, are set to appeal to Thai EV enthusiasts. Customers who have already placed orders can expect delivery between October and November this year. “The EQE 300 is priced at 3,970,000 baht, while the EQS 450 4MATIC SUV AMG Dynamic is available for 5,999,000 baht,” Mr. Schwenk noted.
The EQE 300 is part of the broader 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, seven-seater luxury SUV. Its predecessor, the EQS 500 4MATIC AMG Premium, was the first vehicle locally assembled on the second-generation electric vehicle architecture platform, known as EVA2, designed exclusively for electric mobility.
Both models are expected to be popular among drivers already familiar with the Mercedes-Benz EV experience. Recently, Mercedes-Benz hosted the “StarFest Defining Electric” event, allowing Thai customers to experience and test drive over 13 models of electric and plug-in hybrid vehicles. This event took place from August 24-25, 2024, at Unformat Studio in Bangkok.
While a positive driving experience and comfort are essential in attracting customers, Mr. Schwenk emphasized that pricing, installment programs, and after-sales services are also crucial, enabling buyers to plan their payments effectively for their chosen vehicles.
Purchasing the EQE 300 and EQS 450 4MATIC SUV AMG Dynamic includes a battery warranty that covers 10 years or up to 250,000 kilometers. Additionally, the company has launched the “Worry-Free” package, available until September 30, 2024, providing special benefits for customers buying Mercedes-Benz EVs, including a down payment of 990,000 baht for all models. For the EQE 300, monthly installments start at 39,000 baht.
Other benefits include three years of free type-1 insurance (Mercedes-Benz Protection), complimentary periodic maintenance services, and an extended vehicle warranty (MBSP Easy Care & Extra Guarantee) for five years. Additionally, customers will receive one year of unlimited DC charging services at designated SHARGE charging stations.
ALL-ELECTRIC
Mercedes-Benz plans to market its new EVs across three categories: “MB.EA” for mid-size vehicles, “AMG.EA” for performance vehicles, and “VAN.EA” for light commercial vehicles. Large EVs like the EQE and EQS will utilize the EVA2 platform, contributing to emission-free transportation and future cities. In Thailand, the company will import new models and launch local versions of EVs from the Thonburi Automotive Assembly Plant Co., Ltd., according to Mr. Schwenk. Mercedes-Benz has recently renewed a 10-year agreement with Thonburi Automotive Assembly Plant, reinforcing their long-term partnership in vehicle assembly and battery production, which supports global circular economy efforts.
The factory currently produces over 13 car models across various categories, including A-Class, C-Class, E-Class, and S-Class. Mercedes-Benz is assisting Thonburi Automotive Assembly Plant in employing advanced technologies for the production of EVs and is also supporting Thonburi Energy Storage Systems in creating high-quality batteries. Furthermore, Mercedes-Benz will continue to develop the next generation of EV platforms, following its investment in establishing “eCampus” in Stuttgart, a hub for high-performance battery cell development and innovative manufacturing processes to improve battery technology.
“We are committed to becoming a significant player in driving the EV industry and market in Thailand,” said Mr. Schwenk.
AUTO CHALLENGES
Despite the intense competition in the EV sector and economic challenges facing Thai consumers, Mercedes-Benz is determined to expand its presence in the Thai automotive market. “The current market situation makes it difficult for us to forecast our 2024 sales,” Mr. Schwenk admitted. “We are seeing price wars as Chinese EV manufacturers enter the market, but we choose not to participate in this price cutting. We adhere to our one-price policy, focusing on exceptional care for our Thai customers.”
The ongoing slowdown in car sales in Thailand, driven by high household debt and weak consumer spending, necessitates careful monitoring, as these factors pose challenges to increasing sales, including in the luxury segment, this year.
“We hope the new government will implement measures to stimulate the economy, which will help boost demand for vehicles in Thailand,” Mr. Schwenk concluded.