MG Motor India said it expects 25 per cent of its overall sales to come from electric vehicles (EVs) from next year. This year, the company is targeting sales of 6,000-8,000 units from EVs.
“We are targeting our sales to be 6,000 to 8,000 units this year and we are booked for the year already because we have more demand than the supply. We are launching another EV next in the first quarter as we have shared earlier, and with these two EVs (ZS and the new one), we plan to have 25 per cent of our sales as EVs next year,” Rajeev Chaba, President and Managing Director, MG Motor India, told BusinessLine on the sidelines of the all-new ZS EV launch.
Last year, MG Motor India sold a total of 40,000 cars and this year the company is seeing a growth of 70-75 per cent and next year too, it expects a similar growth, Chaba said adding that the plant capacity in Gujarat is being increased to 1.25 lakh units a year.
“So, when we will triple the sales from 40,000 units to 1.20 lakh units next year, it means we utilise the plant fully and 25 per cent of that means 30,000 units of EVs next year,” he explained and added that MG’s second EV that will be launched in the first quarter of next year will be a smaller EV priced between ₹10 and ₹15 lakh.
The company had last year said it will invest ₹2,000 crore to bring in new products and expand its plant capacity. MG Motor, which is owned by China’s SAIC Motor Corp, has been selling ZS EV since 2020 and had sold around 4,000 units last year.
The company launched the facelifted version of the vehicle on Monday priced at ₹21,99,800 for the Excite variant and ₹25,88,000 for the Exclusive version. The newer version of the ZS EV comes with a larger 50.3 kWh battery with advanced technology, offering a 461 km certified range in a single charge.
“ZS EV has been a global success in key markets, including the UK, Europe and Australia. With the all-new ZS EV, we are confident to change the mindset and accelerate EV adoption in India,” Chaba added.
Like other vehicles from MG, the all-new ZS EV is also covered under MG eShield for private customers, wherein the automaker provides a free-of-charge five-year warranty for unlimited kilometres, eight-years / 1.5 lakh km warranty on the battery pack system, round-the-clock roadside assistance for five years, and five labour-free services.