MG Motor India eyeing investment into India business

Although it is managing business continuity by external commercial borrowings and working capital loans, MG Motor India says it is in talks with potential investors.

By Mayank Dhingra calendar 25 Apr 2023 Views icon5571 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
MG Motor India eyeing investment into India business

MG Motor India is all set to grow its share in India's growing passenger EV market with its latest entrant - MG Comet EV that is set to be introduced on April 26. The company is betting big on the Comet's unique proposition of being a micro-footprint car that offers a personal mobility solution in congested urban cities. The Comet, along with the flagship MG ZS EV, is likely to enable MG eye 30 percent sales from EVs in CY23. Rajeev Chaba, President and Managing Director, MG Motor India talks about how the company has been able to achieve up to 54 percent localisation in the Comet at its start of production that would be critical for it to aim for an aggressive price tag. Chaba also spoke about how MG Motor India is gearing to ramp up production at its plant in Halol, Gujarat, to target 3,000 Comets every month, and its talks with potential investors to ensure continuity of the MG India business.

RELATED ARTICLES
Tesla’s Crossroads: The Future of EVs and India’s Role

auther Prerna Lidhoo calendar22 Mar 2025

One of the major challenges for the company is that the Tesla Model 3, one of its more affordable options in the West, i...

India’s infrastructure boom powers Tata Hitachi’s expansion strategy

auther Shahkar Abidi calendar20 Mar 2025

Tata Hitachi Construction Machinery is strengthening its presence in India with a new developmental centre in Dharwad, K...

'Automation and EVs Are Redefining Workforce Diversity in Auto Industry': TeamLease Services

auther Prerna Lidhoo calendar15 Mar 2025

While women presence in manufacturing plants was less than 1% until a decade ago, today, EV units are setting new benchm...