MG Motor India expects EVs to form 25% sales volume from next year
MG Motor India is bullish on the prospects of green mobility in the country and expects 25 per cent of its total sales volumes to come from electric vehicles by next year, a top company official told PTI. Beside the just launched 2022 ZS EV, the company is planning to launch another battery-powered model in the country next year.
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The automaker is also in the process of investing ₹2,000 crore on capacity expansion and new product development. It is looking to ramp up its total manufacturing capacity at its Halol plant in Gujarat to 1.2 lakh units in 2023 from the current capacity of 70,000 units per annum.
The company is going to begin second shift at its manufacturing plant next month, which it acquired from General Motors. “Though the semiconductor shortage is huge but I think we need to add the second shift," MG Motor India President and Managing Director Rajeev Chaba told PTI. He added there there would also be an addition of another 1,000 people direct and direct within this month and next month at the facility.
The planned investment by the company will also go into the localisation of its two EVs in the country as well as into the introduce the Hector SUV facelift this year. The newly launched 2022 ZS EV and the upcoming MG EV are also a part of the planned investment. "This ₹2,000 crore investment primarily is basically to enhance the capacity of the plant, launching these two new EVs," Chaba said.
The 2022 MG ZS EV has been launched at a starting price of ₹21.99 lakh (ex-showroom) for the Excite variant which will be available to customers from July onwards. The MG ZS EV Exclusive variant has been priced at ₹25.88 lakh ( ex-showroom).