SAIC-owned MG Motor, which made its India debut in 2019, has set its eyes on expanding its footprint in the country and has now revealed a comprehensive 5-year plan to achieve this goal.
Here’s a look at some of the major highlights from its latest announcements: –
- MG Motor will invest over Rs 5,000 crore in India to expand its operations and increase localisation.
- MG has charted an ambitious course to launch five new cars in India by 2028, with the majority being electric vehicles. By the end of this timeline, the company aims to have 65-75% of its total sales from EVs in India.
- The company has also announced to set up of its second manufacturing plant in Gujarat itself, which will expand its annual production capacity to 3 lakh units from the current 1.2 lahks.
- In order to increase localisation, MG will also set up a battery assembly plant in India to support its EV lineup.
- In its goal of sustainable mobility, the Chinese car manufacturer is all set to venture into cleaner fuel technology, with a particular focus on hydrogen fuel-cell tech and cell manufacturing. The plan involves a potential collaboration with a joint venture or a third-party company to achieve this objective.
Also Read: Skoda To Launch Six New EVs By 2026; New-gen Super, Kodiaq To Debut This Year
At present, MG Motor has five offerings in its India portfolio, which include the Astor, Hector/Hector Plus, ZS EV, Gloster, and the recently introduced Comet EV. With its ambitious future roadmap, the future certainly looks promising for MG in the Indian market.