MG Motor India is eyeing a growth of at least 25% which gets over a fourth of its sales volume from EVs in its overall annual sales volume this year. For the Indian market, with EVs’ prices downward by up to over INR 3.5 lakh, announced on Friday, with a plan to launch 2 new products every year.
MG Motor may offer models with other propulsion technologies in the coming years. Gaurav Gupta, Deputy MD, MG Motor India, talks about the factors that helped in the price reduction, market plans, and outlook for 2024, and beyond.
The automaker said it is also exploring setting up of cell manufacturing and hydrogen fuel-cell technology through joint ventures or third-party manufacturing.
The company is planning to offer majority stakes to local partners over the next 2-4 years roll out new products for the domestic market, including electric vehicles as part of a five-year business roadmap in the country.