MG Motor India is expected to launch a new, more affordable electric vehicle in the country over the next two years. According to a report from PTI, the new EV from MG India would be priced under Rs. 20 lakh. It will be the second EV from the Chinese-owned British carmaker for the Indian market after the ZS EV, which currently retails in the range of Rs. 20.99 lakh, the latter gets a price tag of Rs. 24.18 lakh (Ex-showroom). MG Motor introduced the 2021 ZS EV in the market earlier this year. Apart from ZS EV, MG India also sells models like Hector and Gloster.
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Apart from ZS EV, MG India also sells models like Hector and Gloster.
Rajeev Chaba, MG Motor India President and Managing Director told PTI that, "We have been very pleased with our electric vehicle product performance till now. We intend to launch more electric cars in the future and hopefully we can look at a car below Rs 20 lakh as our second EV in the future."
He also mentioned that the launch of the SUV has been deferred a few weeks, due to the COVID-19 second wave. Speaking on the timeline of the launch, Chaba said, "We are not defining the timelines now due to the COVID situation and shortages of essential materials, especially chips. So hopefully in two years, we can do it."
The existing MG ZS EV has been attracting decent volumes and the carmaker has sold over 1300 units last year, which is impressive. The upcoming mid-size SUV is expected to be a volume generator. And, the company will look to fully utilise its manufacturing facility in Halol, which has an installed capacity to produce around one lakh units per annum.
MG Motor introduced the 2021 ZS EV in the market earlier this year.
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When asked about the plans to set up a new production facility in India, Chaba said that the project is very much unlikely at the moment. He said, "We need to look at full utilisation of the Halol facility. Due to the pandemic, our volumes have gone down so our first priority is that the Halol plant is fully utilised in terms of capacity and profitability. So I think we need to make sure of that. So the second plant is not on cards at the moment."
