Business Standard

MG Motor India is exploring choices to arrange a second plant, the official says

An official at Chinese language automaker MG Motor India mentioned it’s exploring the opportunity of organising a second manufacturing unit within the nation.

The corporate at the moment has a producing plant in Halol, Gujarat with a manufacturing capability of 120,000 models per yr.

“We’re exploring the choice of organising a second plant in India. It usually takes two to 3 years for a brand new plant to grow to be operational,” Gaurav Gupta, deputy managing director of MG Motor India, mentioned on Wednesday night. The corporate has not but decided the situation of the potential second manufacturing unit.

It began operations in India 4 years in the past in 2019, and the corporate at the moment has 5 fashions and sells round 5,000 models monthly. He mentioned that among the many 5 fashions, two are electrical vehicles.

Gupta mentioned the corporate plans to introduce a brand new mannequin yearly in India, both on EV or ICE (inner combustion engine) platforms.

At current, 25 to 30 p.c of the corporate’s gross sales come from electrical autos, he mentioned. “Our aim is to extend this share to 35 p.c by 2025,” Gupta added. He additionally mentioned that the corporate can also be evaluating the choice of organising a battery meeting plant close to the prevailing facility in Gujarat.

Gupta mentioned the passenger car business is rising at a fee of 9 to 10 per cent yearly. “In the course of the interval from January to August 2023, the corporate’s gross sales grew by greater than 20 p.c. We hope to keep up this tempo throughout the present calendar yr,” he mentioned.

Presently, MG Motor India sources batteries for its electrical autos from China.

To enhance the EV ecosystem, the corporate has partnered with Jio-BP to arrange charging stations within the nation.

The corporate has invested Rs 4,000 crore to date in India. MG Motor India can also be exporting vehicles to Nepal and different SAARC nations, he mentioned, including that the corporate is evaluating different export locations as nicely.

He added that with 350 brokers at current, the corporate plans to lift the quantity to 400 by the tip of this yr.

(Solely the title and picture of this report might have been reworked by Enterprise Customary employees; the remainder of the content material is auto-generated from a syndicated feed.)

(Tags for translation)MG Motor India

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