Sources say that MG Motor India is readying a new mid-size platform that will churn out a range of body styles with multiple powertrains.
19 Mar 2024 | 6023 Views | By Autocar Professional Bureau
The premium mid-size SUVs that helped MG Motor India establish its brand in the country is again part of the its focus for the company’s next big phase of growth and expansion.
Sources say that MG Motor India is readying a new mid-size platform that will churn out a ...
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The premium mid-size SUVs that helped MG Motor India establish its brand in the country is again part of the its focus for the company’s next big phase of growth and expansion.
Sources say that MG Motor India is readying a new mid-size platform that will churn out a range of body styles with multiple powertrains. This all-new platform which will first be launched in China sometime this year, will spawn a Hector-sized SUV, Innova-sized MPV and even a Honda Civic sized sedan with petrol, strong hybrid, plug-in hybrid and pure electric vehicle options.
Autocar learns that the big shocker is going to be the pricing that MG Motor India is targeting for the EV variants based off the new platform. The mid-size SUV which is understood to have more interior space than the Hector and is likely to come with a starting price of close to Rs 20 lakh whilst the Innova rivalling the all-electric MPV is rumoured to hit the market at a price tag of Rs 25 lakh, whilst the sedan EV could be priced even below Rs 20 lakh.
All three of these pure EV products could be the first to be manufactured in MG Motor’s new production facility near the existing Halol plant for which the scouting process is underway. The new plant will help MG Motor more than double its capacity to 3 lakh units. The all-new mid-size platform itself is likely to contribute to a volume of about 1 lakh units per year.
The new range of products on this all new platform is likely to hit the roads between 2025 and 2027.
MG's plans of offering a strong hybrid and plug-in hybrid option shows that despite a strong emphasis on its EV business, the company is not losing sight of its ICE portfolio. However, they need to have some form of electrification to meet all future emissions requirements, especially CAFE norms.
This new model onslaught is part of the Rs 5000 crore investment plan that MG Motor had conceived in May 2023 as part of Indianising its local venture. In November 2023, MG Motors India’s parent SAIC and JSW Group entered into a strategic joint venture agreement. Autocar had exclusively reported on a potential partnership between MG Motor and JSW in April 2023.
Both companies in a joint statement had said that SAIC Motor and JSW Group will create strategic synergies by bringing together resources in the field of automobiles and new technology. The joint venture will also undertake multiple new initiatives including augmenting local sourcing, improving charging infrastructure, expansion of production capacity, and introducing a broader range of vehicles with a focus on green mobility.
According to the agreement signed, JSW will hold a 35% stake in the Indian JV operations. SAIC will continue supporting the joint venture with advanced technology and products to deliver extraordinary mobility solutions with an unwavering focus on the Indian consumer.
With the infusion of equity by JSW Group, the exact contours of its future plans are likely to be revealed tomorrow at the first press conference since the new joint- venture entity was formalised.