MG Motor has revealed its ambitious 5 year roadmap for the Indian market. The plan outlines establishing a new manufacturing plant, localizing new technology, new product launches (mostly EVs) and fresh investments. Here’re all key details of MG’s new market and product strategy.
More EVs planned
The British automaker has confirmed that it will bring in 4 to 5 new models in India by 2028, and most of them will be electric vehicles. MG expects that its EVs to achieve 65 to 75 percent of its total sales in the next 5 years.
Currently, the company has two electric offerings in its Indian product portfolio – ZS EV and Comet EV. The MG ZS EV comes with a 50.3kWh battery pack and a front-axle mounted electric motor (176bhp/280Nm). The SUV is claimed to offer a range of 419km on a single charge. The recently-launched MG Comet EV is available with a 17.3kWh battery and a 42bhp electric motor. The compact EV promises a range of 230km.
Aim to increase localization and production
With an aim to increase its production output from 1.2 lakh units to 3 lakh units per annum, MG Motor India will setup its second manufacturing facility in Gujarat. Besides this, the company will focus on local manufacturing of electric vehicle components and setup a battery assembly in its upcoming production plant. This will certainly help the carmaker achieve competitive pricing and reduce its production cost. It will increase localization and explore opportunities in cell manufacturing and hydrogen fuel-cell (HFC) technology via partnerships or third-party manufacturing.
Big investment coming in
MG Motor India will make an investment of over Rs 5,000 crore for its entire operations in the next five years. In order to achieve production and localization plans, the carmaker will need a larger workforce that will also be increased to 20,000 by 2028.
