SAIC-owned MG Motor is planning to open an electric vehicle battery assembly plant to bring the cost of its electric vehicles down in India. The company plans to bring a sub INR 20 lakh electric vehicle soon, a top company official told Mobility Outlook.
Currently, the company is selling electric SUV ZS EV at INR 20.99 lakh. The company recorded its highest booking of 700 units in August.
Gaurav Gupta, Chief Commercial Officer, MG Motor, said, “On the product side, we are bullish about electric vehicles in India. We are exploring a battery assembly plant in India as we are currently working to bring sub INR 20 lakh electric vehicles.”
He added, “We are exploring different models of ownership to open a battery assembly plant.”
To develop the overall ecosystem for electric vehicles, the company has tied up with different companies for charging infrastructure and recycling batteries.
At present, the company is planning to launch its five-seater mid-size SUV Astor in October, thus bringing the company’s overall product portfolio to four products - Hector, Astor, Gloster, and ZS EV.
Bullish on the performance of Astor, the company is planning to expand its production capacity from 4,000 units a month to 7,000 units a month by the end of this year. MG’s Halol Gujarat facility can produce up to 84,000 units annually.
Gupta said, “We are working to expand and optimise our current facility at Halol. Our target is to produce at least 100,000 units from the plant.”
Various media reports earlier claimed that MG Motor is scouting a new plant and is even interested in buying Ford India’s Chennai plant.
Without confirming or declining, Gupta said, “Our focus is to expand the production capacity of Halol plant once we reach the threshold.”