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MG Motor to roll out affordable EV in 3-4 yrs, to set up battery unit here

MG Motor India will bring in an affordable electric vehicle in three to four years as it looks to gain leadership in the country’s EV market space.

, ET Bureau|
Nov 13, 2019, 06.30 AM IST
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SHANGHAI: MG Motor India will bring in an affordable electric vehicle in three to four years as it looks to gain leadership in the country’s EV market space, a top official said. The company, which is set to launch MG ZS EV electric SUV early next year, will also set up a battery assembly unit for electric vehicles sold in the local market within two years.

“We want to be the leading player in the EV space and we have the technology…(and) products,” MG Motor India managing director Rajeev Chaba said. As a first step towards this, the company owned by Chinese firm SAIC Motor, will start assembling ZS EV in the country. “Then we will (start) battery assembly operations in India, and that should happen hopefully in one to two years’ timeframe,” said Chaba who is also the president of MG Motor India. The investment in the battery assembly unit will be over and above the .`5,000 crore the company has already committed to invest in India by 2025.

MG ZS EV is likely to be priced at around .`25 lakh and will first hit the roads in Delhi-NCR, Mumbai, Bengaluru, Ahmedabad and Hyderabad. The SUV comes strapped with a 44.5 KWh battery that delivers 325 km on single charge. MG Motor plans to produce 100 units of the vehicle every month, which can be increased to 200-300 vehicles per month depending on demand.

To address consumer concerns as relates to charging infrastructure, it has partnered with Fortum, Delta Electronics India and eChargeBays to set up charging points across customers’ residences, dealerships and some public places. To get into the mainstream, it will introduce a more affordable product that Chaba expects to hit the roads in 3-4 years.

“To get into the mainstream, you need to bring the cost of EV on to the lower side,” he said. “It is too early for me to say but definitely to democratise electric vehicles and give a taste to most of the car consuming population, you need to go to Rs 15 lakh and Rs 10 lakh and below as you go forward. So, definitely, we would like to be a part of that pie as and when the time is ready.” MG Motor India aims to bank on the technology to attain leadership position in the electric vehicle segment.

(The correspondent is in Shanghai on the invite of MG Motor India)

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