Off-late, MG Motor has been in the news quite often. The carmaker recently slashed prices across its entire lineup in February making them quite an attractive proposition against rivals. Last year, the company announced diversification of its shares in order to include more Indian stakeholders.
As part of this initiative, parent company SAIC joined hands with Jindal Steel Works (JSW), paving the way for the steel major to enter the automotive industry. Now, MG Motor has laid out its plans for 2024.
New MG EV in India
In an exclusive interaction with Vikram Chaudhary from Financial Express, Rajeev Chaba, CEO Emeritus, MG Motor India, revealed that the company will launch two new cars this year. Moreover, one of these upcoming launches will be an electric vehicle (EV) which will help MG boost its market share in the EV segment.
MG was the one of the first car brands to break into the EV space in the Indian market with the ZS EV in early 2020. However, the company only added one more EV to its lineup in the form of Comet EV last year. While MG did not comment on the nature or any specific details about the upcoming products, we assume that one of them could be MG3. The hatchback is an entry-level model to MG Motor’s global lineup.
Slotted against Hyundai i20, Maruti Baleno, and Tata Altroz in the premium hatchback space, the MG3 recently made its debut at the Geneva Motor Show in a new avatar. The 2024 MG3 is powered by a new hybrid powertrain. It’ll be interesting to see if MG decides to launch a hybrid hatchback in India.
On being asked about the global saturation in EV sales, Chaba denied there is decrease in EV sales but accepted the demand isn’t as high as expected. He conceded that many automakers are now resetting their targets after they set very aggressive targets for electrification but none of them are moving away from EVs.
