MG Motor expects 25% sales volume from electric vehicles: MD – EQ Mag Pro

MG Motor India plans to ramp its total manufacturing capacity to 1.2 lakh units in 2023, from the current 70,000 units per annum. It is also planning to introduce Hector facelift this year and a new electric vehicle (EV) in the first quarter of the next year.

Bullish on the prospects of green mobility in the country, MG Motor India expects 25 percent of its total volumes to accrue from electric vehicle sales by next year, according to a top company official. The company, which on Monday introduced all-new version of ZS EV in the country, is in the process of investing Rs 2,000 crore on capacity expansion and new product development.

The automaker plans to ramp its total manufacturing capacity to 1.2 lakh units in 2023, from the current 70,000 units per annum. It is also planning to introduce Hector facelift this year and a new electric vehicle (EV) in the first quarter of the next year.

“We are executing the capacity to increase from 75,000 in Halol to 1.2 lakh units. So, next year, our plant capacity would be 1.2 lakh units. And, with the help of two new EVs…the one launched today (Monday) and the one coming, next year. Twenty-five percent of our sales for next year will be EVs,” MG Motor India President and Managing Director Rajeev Chaba told.

Source: cnbctv18