MG Motor eyes 65-75% EV sales by 2028

Chinese automobile manufacturer MG Motor India expects to clock 65%-75% of total automobile sales from its EV portfolio by 2028.

The company is also planning to launch 4-5 electric vehicles (EVs) in the next two to four years.

MG Motor India is among the top 10 carmakers in India, and had clocked in sales of 41,094 passenger vehicles in FY23, according to the Federation of Automobile Dealers Association (FADA). 

As part of the its expansion plan, MG Motor India plans to establish a second manufacturing facility in Halol, Gujarat, significantly increasing the combined production output from the current 1,20,000 to 3,00,000 vehicles (including both plants' capacity). The company, which is owned by state-owned Shanghai Automotive Industry Corporation (SAIC) Motor, already has a manufacturing plant in Halol, Gujarat. According to Chaba, the manufacturing plant in Gujarat will create 20,000 direct and indirect jobs by 2028.

Apart from this, Chaba said the company is also exploring cell manufacturing and local production of EV parts through joint ventures or third party.

"As we pave the way for our next phase of sustainable growth, we have outlined a clear roadmap and vision for 2028. Our growth strategy is centred around strengthening localization, aligning more closely with the government’s 'Make in India' initiative while innovatively augmenting our promise consistently, and diligently meeting the evolving needs of the market," Chaba said.

The development comes days after the Chinese automobile manufacturer launched the country's smallest car, MG Comet EV, last month. The GSEV-platform-based ultra-compact electric hatchback PureEV claims to have a minimalist yet spacious design. Bookings for the EV will open on May 15. The Comet EV is the second EV in MG Motor India's portfolio and will be available at starting price of ₹7,98,000/- (ex-showroom).