MG Motor is planning to compete with Tata in India with its affordable Car

In order to challenge domestic auto giant Tata Motors’ supremacy in the green mobility sector, MG Motor India plans to introduce a cheap electric vehicle priced less Rs 15 lakh in the local market the next fiscal year.

According to Rajeev Chaba, President and Managing Director of MG Motor India, ET, the business will obtain the product’s batteries locally to keep costs low. The business anticipates that once this car enters the mass market, EV sales might account for up to 25% of total sales in 2019.

“For India, if we want to democratize technology, we will need low-cost solutions. We will launch our second electric vehicle in the second quarter (April-June 2023). We expect to get good volumes,” Chaba said.

According to Rajeev Chaba, President and Managing Director of MG Motor India, ET, the business will obtain the product’s batteries locally to keep costs low. The business anticipates that once this car enters the mass market, EV sales might account for up to 25% of total sales in 2019.

With a market share of more than 80% in the local EV market, Tata Motors now offers three models: Tiago, Tigor, and Nexon. Prices range from Rs. 8.49 lakh to Rs. 17.50 lakh for these (ex-showroom). The business expects to sell close to 50,000 electric vehicles by the end of the current fiscal year. In total, Tata Motors intends to introduce 10 EVs over the following five years.

According to Chaba, MG Motor India is aiming to develop an ecosystem for electric cars in order to hasten the transition to clean mobility.

MG Motor
credit: economictimes

Under the MG Developer Program (MGDP), the business is working with tech start-ups to create novel battery chemistry and charging solutions for the local market that can eventually be reproduced in MG Motor’s UK division and in other emerging countries around the world.

180 startups have already been selected and mentored by MG and its consortium partners to investigate and develop applications in connected automotive technology, futuristic technologies, and CaaP. These startups include Koinearth, Electreefi, Voxomos, Redbot Technologies, and Mihup (Car-as-a-Platform).

Overall, according to Chaba, there is still a strong demand for electric vehicles. MG Motor India is working to increase ZS EV manufacturing from the current 300–350 units per month to 500 units per month. By January 2023, production of the SUV Hector is expected to expand from the current 2,000 units per month to 4,000 units. The business expects to sell 55,000–56,00 units at year’s end and hopes to double volumes in the following year.

Also Read:

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More like this

TCS Salary Hike 2025: What Employees Can Expect in...

TCS Salary Hike 2025! In the ever-evolving landscape of India's IT sector, annual salary hikes are like the...
Tata Car

Unlock Incredible Savings: Tata Car Discounts for February 2025...

If you're in the market for a new car this February, now is the perfect time to...

Tata Acquires 60% of Pegatron India, Boosts iPhone Production

Following reports back in last year, Tata Electronics has now confirmed it has taken a controlling 60%...
Tata Nexon

Discover the Exciting 2025 Tata Nexon: What You Need...

The 2025 Tata Nexon has officially hit the Indian market, and it’s making a significant impact! With...

New Tata Cars and EVs Set for Bharat Mobility...

New Tata Cars are geared up for an exciting debut at the Bharat Mobility Global Expo 2025,...

LATEST NEWS

WPL 2025: Mumbai Indians Women vs Gujarat Giants Women – Preview, Prediction and Where To Watch The Match LIVE

Mumbai Indians Women (MUM-W) are set to clash with Gujarat Giants Women (GJ-W) in the Eliminator of the Women's Premier League 2025 at Mumbai's...

From 2G to 6G, Now SAT-G Brings Global Connectivity

The SAT-G satellite communication technology would lead to a revolution in global connectivity, Bharti Airtel chairman, and industrialist Sunil Bharti Mittal said Wednesday. “Just...

WFI Suspension Lifted: Full Timeline of Indian Wrestling’s Struggles

WFI Suspension Lifted: After two years of governance turmoil, legal battles, and protests, the Wrestling Federation of India (WFI) has finally had its...

Kush Maini Named Alpine’s Reserve Driver for 2024-25 F1 Season

Kush Maini : The Formula 1 2024-25 season is just around the corner, set to begin with the Australian Grand Prix on March...

Featured