Electric vehicles Energy

By the end of the coming fiscal year, MG Motor India plans to launch an electric vehicle priced between Rs 10-15 lakh

According to a top corporate official, MG Motor India would launch an electric car priced between Rs 10 to15 lakh by the close of the next fiscal year to expand its presence in the nation’s electric mobility industry. As its next new product, the business, which now sells the electric SUV ZS EV, will introduce an electric crossover vehicle built on a worldwide platform but customized for the Indian market.

“We’ve been thinking about an electric vehicle for our next product after the SUV Astor, and now we’ve been quite encouraged by the total clarity from government side that electric vehicle is the path to follow,” MG Motor India Managing Director and President Rajeev Chaba informed PTI. “We have reached the decision that we will offer an Electric Vehicle by the close of next financial year,” he stated of the company’s intentions.

He expects the pricing to range between Rs 10 lakh and Rs 15 lakh, and it would be aimed at the mainstream market of personal electric mobility. He stated that for India, “We’ll customize this car to fit the range, Indian rules, and client preferences.  It will be developed specifically for India. We’ll go to work on it right away.”

He’s optimistic about the planned electric vehicle, he added “This is the sort of tipping point we’ve been talking about, where if we can make a car for between Rs 10 lakh to Rs 15 lakh, we’ll be able to sell a lot of cars. So, perhaps, this will be our mass-market electric vehicle.”

MG Motor India would localize a lot of parts for its forthcoming EV, according to Chaba, in order to fulfill the government’s standards for the production linked (PLI) program for the auto sector. He went on to say that these would comprise battery assembly, motors, and the localization of other parts.

The ZS EV, MG Motor India’s other electric mobility product, is offered in two models with prices ranging from Rs 21 lakh to Rs 24.68 lakh (ex-showroom). Owing to the semiconductor shortage, Chaba claimed the company currently has over 2,000 orders waiting, but it can only produce 250 to 300 units per month. “From February forward, we will raise this. We’ll be able to create it, perhaps 500 to 600 units every month “Chaba remarked.

MG Motor India is an Indian automobile manufacturer and a subsidiary of SAIC Motor, a Chinese automaker that sold automobiles under the MG brand. The subsidiary was established in 2017 and started selling and manufacturing in 2019.

In India, MG Motor India has one production factory, which is situated in Halol, Gujarat. The plant, which has an annual capacity of 80,000 vehicles, was previously possessed by General Motors India, that stopped selling cars in India at the close of 2017.

About the author

Jeff Colloway

Jeff Colloway

Jeff Colloway is the senior editor for Murphys Hockey Law. Jeff has been working as a journalist for nearly over a decade having published pieces many publications including the Knoxville News Sentinel and the Huffing Post. Jeff is based in Nashville and covers issues affecting his city and state. When he’s not busy in the newsroom, Jeff enjoys fishing.
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