MG Motor India has confirmed that it will launch up to five new cars in the Indian market over the next 5 years. The company also revealed plans to set up a second manufacturing plant in the country, with the new unit also incorporating a battery assembly facility. The carmaker also said that it will explore developing hydrogen fuel-cell technology and local manufacturing of cells either via a joint venture or through third-party manufacturing. MG is also diluting its shareholding, and aims to hand over majority stake to Indian suitors over the next few years.
MG's product roadmap will focus mainly on electric vehicles. The move will be in line with its global shift towards electrification, with the carmaker having unveiled a string of new EVs in global markets in recent years. MG estimates EVs will form up to 75 per cent of its total sales in India by 2028. The carmaker currently sits in second place, behind Tata Motors, in terms of EV sales.
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MG will launch up to 5 new models in the coming years with the majority being EVs.
The rollout of new models will happen alongside capacity expansion, with a second manufacturing plant set to come up in Gujarat. MG currently operates out of GM’s old Halol plant, which will soon be scaled up to produce 1.2 lakh units a year. The second plant will more than double MG’s production capacity to up to 3 lakh units annually. The carmaker said it would also look at local manufacturing of components for its future EVs.
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MG recently expanded its EV line-up with the launch of the Comet EV.
MG showcased several of its all-electric products at the 2023 Auto Expo earlier this year. One of these was the new MG 4 electric hatchback, which the company brought to gauge customer interest. The carmaker also showcased the new MG 5 electric estate as well as the MIFA 9 – a Kia Carnival-sized all-electric MPV and the Marvel R electric SUV. While there is no confirmation at this point, some of these models could make it to India in the future. The current-gen ZS EV (which adds notable figures to MG's overall sales), too, is in its final years in global markets, so an all-new SUV to replace it could also be on the cards.
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Models such as the MG 4 from the global portfolio could come to India.
The carmaker has said that it will invest over Rs 5,000 crore into its India operations over the coming years with a key focus on localisation, technology, and indigenisation.
