MG Motor India is all set to start its India operations starting 2019 and now we can confirm that it will launch its first ever electric vehicle in India as early as in 2020 and will be company's second launch in India. MG Motor India is owned by Chinese SAIC Motor Corp and the company plans to invest over Rs 5000 crore in the Indian market and has already acquired the General Motors' plant in Halol, Gujarat. The other big news is that this new electric vehicle is likely to be an SUV and will be Made-in-India that means a higher level of localisation and affordable costs of the SUV.
MG Motor India had recently showcased the eRX5 electric SUV to Prime Minister Narendra Modi at the MOVE Global Summit 2018 held in September 2018. SAIC's eRX5 has an electric range of 425 kilometres on a single charge and can be charged up to 80% in less than 60 minutes. It also supports fast charging system. MG Motor India further says that the new India bound electric SUV is likely to be based on the company's Marvel X platform and will make its India debut in the second quarter of 2020.
MG Motor India will localise the key components of its products in India and will be handled by SAIC Group's existing suppliers or new Chinese suppliers setting up hubs in India. The important component manufacturers will be based within a supplier park located inside the Halol Plant. The company also says that some of the non-electric components required to build the electric SUV will be localised by the company.
During his visit to India, Chen Zhixin, President, SAIC Motor Corp further confirmed it will invest over $500 Million in India in the next two years. MG Motor finished the acquisition of GM's Halon plant and began its own construction in 2017. The plant is likely to have an annual capacity of 80,000 units in the first phase and the company does have aggressive plans for further expansion.
MG Motor will begin its India innings early by June 2019 and will have around 45 dealers and 100 touch points initially. The company also confirmed 75% localisation on its SUVs. The first product by the company in India will be an SUV and will be designed and developed in the UK and China by Indian engineers.