The MG Comet EV is not your regular car. It is an all-new concept in urban mobility, being a proper 4-seater, 2-door electric vehicle, that aims to appeal to millennials, Gen-Z and others alike. There is a need for a new form factor in urban mobility, given its compact dimensions and ease of driving, which could solve many issues in crowded cities.
Rajeev Chaba, president and MD of MG Motor India, seems to think that the target customer base is actually quite wide for the Comet EV. Speaking to FinancialExpress.com on the sidelines of the MG Comet EV media drive, Chaba says “This car has the capability to evolve and I think this car can surprise all of us. Initially, we were targeting a younger audience because of the connectivity features it has – it’s like a phone on wheels.”
He adds that it’s not likely to be the first car in a family, but rather the second or third car. MG is looking to launch the Comet EV with about 53 percent local content, ramping it up to about 60 percent by the end of the calendar year. This would help keep the pricing competitive. The battery, for instance, is sourced from Tata and it’s a new concept in cell layout, with prismatic cells being used in the battery construction.
The challenge Chaba says is that there are electrical components in EVs that are not available in the country right now. The government and other companies are working toward increasing local component production for EVs.
Speaking about looking at different ownership models, Chaba does not rule out a leasing model or a subscription option which would keep the sticker price lower, with only a reasonable monthly fee and an assured buy-back component. He says what will appeal to owners of this car is the low operating costs, which as he says “is less than the price of two coffees or a pizza a month.”
The production capacity for the MG Comet EV is about 3,000 cars a month. Along with the MG ZS EV, MG plans to have about 30 percent of its annual sales coming from electric cars.
