MG Motor India plans to introduce two new cars in the automobile market during the second half of this year including EVs. Also, new products are planned to be introduced in next year’s portfolio.
For the time being, the percentage of EV sales in total car sales of MG Motor is 25-30%. To build up momentum and increase EV contribution with their growth in the Indian market, the company has started to look into infrastructure growth and a better understanding of battery technology. According to Gaurav Gupta, Deputy Managing Director, MG Motor, India, currently, the company’s contribution to the EV industry is 2%. They plan to increase the percentage to 4% marking an almost 100% growth this year. But next year it plans to level up the EV contribution to 6-7% and will leapfrog from there.
MG Motors made its debut in India With Hector in 2019. Currently, Astor, Gloster, Hector 5 seater, Hector plus, ZS EV SUVs and Comet EV are the cars rolling on the Indian streets. MG also comes under the list of first automakers, introducing EV in the Indian Automobile Market with ZS EV in 2020. May 2023 marked the second offering order i.e. Comet costing INR 7.98 lakh (ex-showroom price).
A new variant of EV was launched by MG Motor. They didn’t reduce the price but repositioned them. The Comet now starts at ₹6.98 lahks, Excite FC and Exclusive FC at ₹8.93 lahks and ₹9.13 lakh respectively. The company studied consumer moments in this segment before readjusting the features. They also focused on making the backend cost-effective and logistic.
Conclusion
MG Motor India expects a single-digit growth of 5-6% in the passenger vehicle industry of India in FY25. What are your thoughts about it? Also for more updates do check out the website www.fyndmycar.com.
FAQs
Q1. Do MG Motor have a future in India?
Ans: With a plan to launch two new cars in 2024 including electric, MG Motor is all set to firm its hold on the India Automobile Industry.
Q2. Name the electric car of MG Motor.
Ans: MG Comet EV and MG ZS EV are the popular electric cars of MG Motors.
Q3. Who introduced Electric Vehicles in the Indian market?
Ans: Mahindra became the first EV manufacturer in the Indian Automobile market. The company launched Mahindra Reva in 2021 and with that, they have gone ahead with their R&D updates.
