Santosh Iyer: Indian EV Market Has Matured; Mercedes-Benz Sees Single-Digit Growth Despite Global

India’s EV market has moved beyond experimentation and customers are ready to buy the right products at the right time, says Santosh Iyer. With EV penetration in its top-end portfolio at 20%, the company is doubling down on electrification, betting big on the new Mercedes-Benz CLA as its first software-defined car. Iyer also says Mercedes-Benz continues to outperform in a slowing luxury market, holds 60–70% share in top-end luxury, sees consensus emerging on SIAM’s unified stance on CAFE 3 norms, while navigating supply delays and rising cost pressures.