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Saturday, December 10, 2022

MG Motor’s Compact EV Launch Likely To Happen In 2023

Earlier, MG had stated its compact EV could be launched here by the end of 2022,  MG Motor is looking to launch its second electric vehicle (EV), a compact crossover most likely, in India in the next two years.

The carmaker has been selling the ZS EV (priced between Rs. 21 lakhs and Rs. 24.18 lakhs, ex-showroom, Delhi) since January last year in the country and has so far retailed around 3000 units of the model.

President and Managing Director of MG Motor India Rajeev Chaba stated that the carmaker is not defining product launches’ timelines due to COVID-19 and shortages of essential materials, especially semiconductor chips.

But, he did say that the company hopes to launch the compact EV in 2 years and added that MG intends to launch more electric cars in the future.

The new MG compact EV would be more affordable than the ZS EV, for it will be priced below Rs. Twenty lakhs (ex-showroom) should help the carmaker grab a large chunk of the EV sales pie in India.

The carmaker is also getting ready to launch the Astor compact SUV in India this year. However, Chaba said its launch had gotten delayed, and the Astor is now expected to hit the market in the last quarter of this calendar year.

In 2019, MG sold 15,930 cars in India, while in 2020, it sold 28,162 units. The carmaker aims to grow by around 70 percent this year, which is possible since SUV sales (out of total car sales) rose to 29 percent in 2020 in India.

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