MG Motor to launch EV crossover priced under ₹15 lakh by end of 2022

MG Motor is planning on launching a new crossover in India by the end of 2022, priced between ₹10 and ₹15 lakh. The new crossover will be based on a global platform but customised for the Indian market.

mg vision i concept
In picture: MG Vision i concept from Auto Expo

MG Motor has announced the launch of a new electric crossover in India by the end of 2022. The new crossover from MG Motor will be priced between ₹10 and ₹15 lakh to appeal to the mass market. MG has also confirmed that the new crossover will be based on a global platform, however, it will be customised specifically for India.

Also, MG has revealed that the upcoming electric crossover will have a lot of localised components, including the battery assembly, motors, and other parts. This should help MG price the new EV competitively, offering customers an alternative choice to the Tata Nexon.

Speaking about the announcement, Rajeev Chaba, the President and Managing Director, MG Motor India, said, “Our next product after the SUV Astor, we have been thinking about an EV and now we have been very encouraged with the absolute clarity from the government side that EV is the way to go.” Sharing the company’s plans, he added, “We have taken the decision that we are going to introduce an EV by the end of next financial year. On the expected price, he said it will range from ₹10 lakh to ₹15 lakh and will target the mass segment of personal electric mobility.”

Furthermore, Chaba stated, “It is a kind of a crossover and this is going to be based on a global platform, which we are going to develop and this will be an EV for the mass market for all the emerging markets including India. We will customise this car for the range and the Indian regulations and customer taste. It will be specially tailored for India. We will start working on it right now.”

He added, “This is the kind of tipping point that we have been talking about that if we can do a car between ₹10 lakh and ₹15 lakh that can give us good volumes. So hopefully, this would be our volume EV car.”

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.