China’s SAIC-owned MG Motor India to invest a total of Rs 5,000 crore in the next 3-4 years, including the Rs 2,000-crore that it already invested last year.
The investment will cater to all product developments, plant, marketing, etc. MG MotorIndia is also working on electric vehicles and will use this investment on EVs too.
Talking about electric vehicle, P Balendran, executive director, MG Motor India, said: “The company is waiting for a strong electric vehicle policy and needs a proper charging infrastructure.”
Starting 2019, the company is planning to launch one new product every year. Led by strong R&D efforts of its parent company SAIC, MG Motor India is also actively considering offering new energy vehicles and is keenly looking to work with all stakeholders involved to implement the technology commercially.
As part of the ‘Make in India’ initiative, the carmaker has also announced that its first vehicle in India will be launched ahead of schedule in the second quarter of 2019.
“We are not going to fool ourselves by saying it’s going to be easy, but we know the challenges,” said Rajeev Chaba, president & managing director, MG Motor India.
The company will bring the most suited platform from the global product portfolio in India.
MG Motor India, a wholly-owned subsidiary of China’s largest automaker SAIC Motor Corp that owns the brand, aims to launch its first product with an initial capacity of 80,000 units per annum in the first phase.
The company in September 2017 inaugurated its first-ever manufacturing facility in India, through a minimum initial investment of Rs 2,000 crore.
With the upgradation of its Halol plant – including the construction of a new press shop and the modification of assembly lines and other facilities – progressing at a fast pace, MG Motor India has also initiated talks with various suppliers to achieve high levels of localisation.
MG Motor India has also started inviting dealer prospects for its Dealer Road Shows scheduled to be conducted in Mumbai on 28 March, in Delhi on 6 April, and in Bengaluru on 16 April. The company is looking at partners, who possess a hunger for growth and have the capability to deliver a differentiated service commitment that surpasses the industry standard and sets new benchmarks.
Last year, British automotive marque Morris Garages moved a step closer towards establishing full scale operations in the country, with MG Motor India completing acquisition of Halol plant in Gujarat from General Motors.
The state-of-the-art facility, spread over an area of 170 acres, will be completely revamped by MG Motor by 2019.
The company hired, last year in September, an initial workforce of 70 employees at the plant. The facility will entail creation of significant number of jobs, apart from several additional indirect jobs in the state, as part of the ‘Make in India’ and ‘Skill India’ initiatives.
The MG brand, which originated as an iconic British Racing Sports Brand in the year 1924, has evolved into a modern-day innovative brand through the last 93 years.
