MG Motor India to launch sub-20 lakh electric vehicle next year: MD Rajeev Chaba

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New Delhi: At a time when American electric car maker Tesla is gearing up to start operations in India, MG Motor India – the Indian subsidiary of China’s largest automaker SAIC – is looking at expanding its presence at the lower end of the market by launching a sub-20-lakh electric vehicle later next year.

Rajeev Chaba, president and managing director, MG Motor India told ET, the company has commenced work to set up a battery assembly facility in the country to introduce an affordable EV in the local market in 2022. “We are working on finalising the details of the battery assembly facility this year, which is likely to go onstream next year. Work is also on for launching an electric vehicle priced lower than 20 lakh by the end of next year”, said Chaba. The resources deployed for setting up the battery assembly unit will be over and above the 4,000 crore the company is in the process of investing in the country.

Chaba informed the company is working on bettering battery technology to bring on road electric vehicles with a range of 500 km per charge in the next 18 months. The technology is being tested across various terrains and climatic conditions so as it make such vehicles suitable for driving in the country.

Parent SAIC, along with CATL, has invested over $1.5 billion to set up a battery manufacturing facility in China, which at its peak will deliver 36 GWh of battery power. Chaba said as per the direction given by the government, electric mobility seems to be the future of the automotive industry in India.

MG Motor India aims to bank on the technology at its disposable to be a serious player in that space.

With sales of 1,142 units in 2020, MG Motor India has 25% share in the electric vehicle segment in the country with the ZS EV.

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