As MG Motor prepares to unveil a new EV during the holiday season, take a look at its electric venture in India. Can it really change the game?
MG
MG:Further electrifying its lineup in the Indian market is MG Motor India, which has been making waves in the automotive industry since its 2019 entry. Making major progress in its national expansion efforts, the company is getting ready for the launch of its third electric vehicle as the holiday season draws near.
MG has established itself in the Indian market for electric cars, thanks to its lineup that already includes the ZS EV and the Comet. The company intends to leverage this trend with a new offering later this year, acknowledging that consumer preferences are slowly but surely shifting towards electric vehicles.
A significant development after the strategic joint venture between SAIC Motor, the parent company of MG Motor, and JSW Group, under the leadership of Sajjan Jindal, is the confirmation by MD of MG Motor India Rajeev Chaba of the upcoming launch of a new electric vehicle. In India, MG currently accounts for 25% of its sales volume with EVs; the next model is anticipated to solidify the company’s leadership in the electric vehicle market.
An expansion to 80,000 units from 60,000 last year and then to 90,000 units in 2024 is projected for MG Halol plant in Gujarat, indicating a possible increase in production capacity. JSW Group is poised for a strong expansion in the nation, having invested capital and holding a 35% stake in MG Motor India.
To enhance its market position and reach a wider audience, MG Motor India plans to quadruple its range of products by the end of 2025. Not even a teaser has been released regarding the new EV that will be arriving this year. Potential competitors, however, might be the Mifa 9 electric MPV, MG5 electric estate car, or MG4 electric hatchback, all of which made their debuts at the 2023 Auto Expo.
It has been speculated that MG may launch the Baojun Yep e-SUV given the state of EVs in India. Designed to appeal to the average Indian consumer, this electric SUV will build upon the popularity of the Wuling Air EV, also called the Comet in India. It will have a compact size, a muscular and boxy design, and a reasonably priced price tag.
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