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The Chinese automaker MG Motors’ Indian subsidiary, MG Motor India, is working on a strategic move to solidify its position in the Indian automotive market. For this, the SAIC-owned British brand has recently unveiled its plans to launch seven new vehicles within the next two years in the Indian subcontinent. According to reports, these new models will not feature any new ICE vehicles as the company is looking to launch EVs and plug-in hybrids in the country. This report comes after MG’s recent joint venture with the JSW Group.
MG’s Lineup for India Unveiled
According to ET Auto, recently the dealers of MG Motor India from across the country were invited to MG’s headquarters in Shanghai. These dealers were then given an exclusive preview of the upcoming lineup in India. An anonymous source has stated that there will be 7 new cars that will be making their debuts in the next 24 months. It has also been reported that MG Motor India has set its aim to focus extensively on hybrids, encompassing plug-in hybrids and battery-operated vehicles, and at the moment, no new ICE cars are in the pipeline.
Gloster’s Upgrade along with others
The report has also stated that the company, apart from launching these new 7 vehicles in India, MG Motor, is gearing up to unveil an updated version of the Gloster. Currently, in the Indian automotive market, the outgoing Gloster competes with the mighty Toyota Fortuner and Volkswagen Tiguan along with the Skoda Kodiaq. Updates will include exterior as well as interior updates. Apart from these, other cars in the lineup will also be refreshed in the coming months.
Joint Venture with JSW Group
In other MG Motor India news, the company recently collaborated with the JSW Group, and the announcement in November. JSW holds a substantial 35% stake in the joint venture. And it has been reported that both entities are geared up for a sustained and diversified presence in the Indian automotive sector.
It has also been stated that beyond the product lineup, MG Motor is also reinforcing its dealership network in India. MG Motor India, prior to the initiation of the deal with JSW Group, led by Sajjan Jindal, implemented a comprehensive restructuring exercise. The company aims to increase its touchpoints from 330 to 400, spanning 270 cities, by December 2023.
Capital and Geopolitical Issues
MG Motor India, ever since its debut in India, has had a rocky journey that has not been without its challenges. First of all, the company was hindered by regulatory restrictions on foreign direct investment from China. The company faced numerous obstacles in obtaining capital infusion from its parent company, SAIC. However, despite its hurdles, MG Motor has come above the complexities and has been relying on external commercial borrowings to sustain and expand its operations in the country.
In other MG news recently the popular Bollywood actor Sunil Shetty, also known as “Anna,” brought home a brand new MG Comet EV. The Comet EV is currently the most affordable electric four-wheeler in India, and it starts at Rs 7.98 lakh. The picture of Sunil Shetty’s brand-new MG Comet has been shared on Instagram by MG Motor India.
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