MG Motor India to launch 4-5 cars, mostly EVs – Targets 65-75 percent of its sales from electric cars by 2028
MG Motor India has unveiled its 5-year business roadmap aimed at Indianizing its operations here. This roadmap encompasses various initiatives, including localization, adoption of the latest technology, increasing Indian shareholding, expanding production capacity, introducing new electric vehicles (EVs), and making substantial investments. Through these endeavours, MG Motor India aims to contribute to India’s automotive industry and fulfil its commitment to the nation’s progress.
Introduction of New Electric Vehicles (EVs) – Recognizing the importance of sustainable mobility, MG Motor India is committed to spearheading the electric vehicle roadmap in India. As part of its 5-year business roadmap, the company plans to introduce 4-5 new cars, with a strong focus on EV models. Plans are afoot to achieve 65-75 percent of its sales from its electric cars by 2028. This bold step underscores MG Motor India’s dedication to reducing carbon emissions and promoting a greener future for India. By providing a diverse range of electric vehicles, the company aims to cater to the evolving needs and preferences of Indian consumers, making electric mobility accessible to all. This journey to spearhead EVs builds on the MG ZS EV’s success. And most recently the launch of its 2 door smart urban car MG Comet EV.
Driving Towards Localization: MG Motor India’s Production Expansion and Indigenous Manufacturing
In line with its growth plans, MG Motor India intends to establish a second manufacturing facility in Gujarat. This expansion will allow MG Motor India to significantly increase its combined production capacity. With the addition of the new plant/production capacity, the company’s production output will soar from the current 1,20,000 vehicles to an impressive 3,00,000 units annually. This expansion demonstrates MG Motor India’s commitment to meet the rising demand for its vehicles.
MG Motor India envisions a future where local sourcing and manufacturing play pivotal roles in its operations. The company aims to achieve this vision by extensively collaborating with Indian suppliers and manufacturers to enhance the indigenization of its vehicles. Through these partnerships, MG Motor India seeks to leverage local expertise and resources, contributing to the growth of India’s automotive ecosystem and creating a positive socio-economic impact.
Battery Assembly in Gujarat: MG Motor India’s Push for Local EV Components
In line with its vision of localizing operations and strengthening the domestic manufacturing ecosystem, MG Motor India plans to establish a battery assembly unit at its Gujarat plant. This move is aimed at promoting the adoption of electric vehicles in India by facilitating the production of high-quality, locally sourced EV components. With this initiative, MG Motor India seeks to contribute to the country’s growing EV industry and promote sustainable transportation solutions.
As part of its long-term growth strategy, MG Motor India is exploring partnerships and collaborations to leverage advanced technologies and bolster its manufacturing capabilities. The company plans to explore opportunities in cell manufacturing and hydrogen fuel-cell technology. This could come about through JVs or third-party manufacturing. By investing in these cutting-edge technologies, MG Motor India aims to stay ahead of the curve and drive innovation in the Indian automotive industry.
Unlocking Potential: MG Motor India’s Plan for Increased Indian Shareholding
MG Motor India recognizes the significance of localizing its operations to achieve sustainable growth. The manufacturer aims to indigenize its business processes and create a positive impact on the Indian economy. Through extensive localization efforts, MG Motor India aims to enhance the quality and affordability of its vehicles while simultaneously fostering employment opportunities across the country.
As part of its commitment to India, MG Motor India plans to dilute its shareholding and increase the ownership by Indian entities within the next 2-4 years. This strategic move demonstrates the company’s confidence in India’s potential as a vibrant market and its commitment to empowering local stakeholders. By strengthening the Indian ownership, MG Motor India aims to build long-lasting partnerships and foster greater collaboration with local communities.
To enhance its Indianization drive and strengthen its ties with the local community, MG Motor India plans to dilute its shareholding over the next 2-4 years. The company aims to increase the share of Indian ownership, thereby fostering closer ties with the Indian market and boosting its localization efforts. This move is expected to enhance MG Motor India’s brand equity and reputation, helping it to achieve sustainable growth in the Indian automotive sector. Through the establishment of a second plant, the introduction of new EV models, and the exploration of advanced technologies, MG Motor India is well poised to drive innovation and growth in the Indian automotive sector.
Investing in the Future: MG Motor India’s Strategic Roadmap with a Massive Rs 5,000 Cr Outlay
MG Motor has built a strong reputation for delivering high-quality vehicles globally. Drawing inspiration from its illustrious heritage, MG Motor India combines the best of engineering with a deep understanding of Indian consumer preferences, creating an exceptional automotive experience for customers. MG Motor India’s strategic roadmap is backed by a significant investment outlay of over Rs 5,000 crore enabling the company to implement various programs and initiatives that are critical to achieving its business goals. Furthermore, the roadmap also includes plans to expand the company’s workforce, with a target of employing a total of 20,000 people by 2028, including both direct and indirect employees.
Rajeev Chaba, the CEO Emeritus of MG Motor India, further underscored the India roadmap and said, “MG India’s unwavering dedication to India is deeply ingrained in our ethos. As we pave the way for our next phase of sustainable growth, we have outlined a clear roadmap and vision for 2028. Our growth strategy is centred around strengthening localization, aligning more closely with the government’s ‘Make in India’ initiative while innovatively augmenting our promise consistently, and diligently meeting the evolving needs of the market.”
“At MG Motor India, we are resolute in our commitment to fostering meaningful change. We are dedicated to investing in our talented workforce and nurturing the young talent of India through initiatives like the MG Nurture program. Under this, we envision collaborating with 50 institutes to train 1,00,000 students on the latest technologies such as EV, connected cars and ADAS systems.”