Page 3 - Mg Motor India

On track to achieve over 25% of total sales from EVs this fiscal: MG Motor

MG Motor India is on track to achieve over 25 per cent of total sales from electric vehicles this fiscal year as it continues to enhance its product portfolio, according to company Deputy Managing Director Gaurav Gupta. The company has already crossed the 10,000 unit cumulative sales milestone of EVs in the country. On Wednesday, the automaker introduced a top end variant of its electric SUV ZS EV equipped with level two autonomous driving technology priced at Rs 27.89 lakh for a limited period. "We had mentioned earlier that in this financial year also we will see upwards of 25 per cent of our portfolio coming in from electric vehicle sales. At this point in time, we would like to hold that metric and work towards it," Gupta told PTI. He further said, "This will only increase as we go along in terms of new products and also the growth of our current portfolio. We are building up on that journey. Since the Comet is just a recent launch, I think we have started on that journey and i

MG Motor India reports 14% increase in retail sales at 5,125 units in June

MG Motor India on Saturday reported 14 per cent increase in retail sales at 5,125 units in June 2023 as compared to the same month last year. The company had posted a retail sales of 4,504 units in June 2022, MG Motor India said in a statement. "Supplies were disrupted in the wake of cyclone Biparjoy though customer demand should now gain momentum following the monsoon as India gears up for a long festive season," it said. In the second quarter (April-June) of 2023 , the company said its sales were at 14,682 units as against 10,519 units in the year-ago period, a growth of 40 per cent.

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Mahindra & Mahindra, Hinduja join race to buy MG Motor India stake

The Sajjan Jindal-led JSW group has already evinced interest to take up to 48% stake in MG Motor India. The company's valuation is pegged at over Rs. 8,000 crore, the sources said

Foreign automakers get a second chance as India transitions to EVs

But with the advent of EVs, firms like MG Motor India Pvt, the local unit of China's SAIC Motor Corp., Renault SA, Nissan Motor Co. and Volkswagen AG may finally gain a better foothold

BluSmart places order for 500 units of MG's ZS EV electric vehicle

The move comes as BluSmart intensifies its battle against Uber Technologies Inc and Ola Cabs

Lohum partners MG Motor India for second-life EV battery solutions

Integrated battery recycling and repurposing solutions provider Lohum on Monday said it has teamed up with MG Motor India to develop second-life solutions for the car maker's EV batteries. Under the collaboration, Lohum will reuse end-of-first-life batteries of MG electric vehicles to build 2nd-life Battery Energy Storage Systems (BESS) for a wide variety of clean energy applications in domestic urban and rural markets. As part of the collaboration, it also rolled out a completely off-grid 5kWh battery energy storage system for an uninterrupted power supply even in regions with unreliable grid infrastructure. MG Motor India currently sells its ZS EV, besides the recently launched small electric car Comet EV, in the domestic market. "We anticipate over 1-GW of batteries to be deployed by MG Motor in the market through its vehicles, in roughly a three years period. "The company already has deployed close to 100-MW of power through the batteries in its EVs, which is expected to ...

MG Motor India reported 25% increase in retail sales to 5,006 units in May

MG Motor India on Thursday reported 25 per cent rise in retail sales at 5,006 units in May compared to the same month last year. The company had sold 4,008 units in May 2022. MG Motor India in a statement said it remains optimistic about growth and meeting the rising customer demand through various ongoing and planned production and operational initiatives. The growth in sales of ZS EV and the positive response to the recently launched mini electric car Comet EV further encourage the company's stance towards electric mobility, it added.

MG Gloster Blackstorm edition launched; prices start at Rs 40.30 lakh

To navigate through different terrains, the MG Gloster is equipped with seven drive modes namely, 'Snow', 'Mud', 'Sand', 'Eco', 'Sport', 'Normal' and 'Rock'

MG and Jio join hands to offer better voice-recognition technology

The partnership will focus on the seamless integration of the Hinglish Voice Recognition-enabled experience in MG's newly launched Comet EV, with help from Jio's Digital Assets

MG starts bookings for Comet at Rs 11,000, deliveries to start soon

In its press release, MG said that more than 80 customisation options of extended vehicle warranty and service packages are available for customers

China's SAIC Motor plans to sell its stake in MG Motor to domestic entities

SAIC is in the advanced stages of talks with investors from different Indian companies, which include Reliance, Hero Group, Premji Invest, and JSW Group for equity sale

MG Motor 3.0 to push for Indianisation, green tech, capacity expansion

MG entered the Indian market in September 2017 by taking charge of General Motors' old plant in Halol. The plant has acted as MG's manufacturing hub for the last four to five years

MG Motor India says will sell majority stake to Indians in 2-4 years

Carmaker owned by Chinese company SAIC Motor will raise Rs 5,000 crore through stake sale

MG Motor India reports over two-fold rise in retail sales in April

MG Motor India on Monday reported over two-fold rise in retail sales at 4,551 units in April 2023 compared to the same month last year. The company had posted retail sales of 2,008 units in April 2022. The supply chain constraints remain in a few models; however, the company is working towards meeting customer demand, MG Motor India said in a statement. "The coming months are expected to bring in further improvements on this front," it added. The company said it is actively preparing for the market launch of its small electric car Comet EV this month with bookings to commence on May 15.

MG Motor launches cheapest 'Comet EV' in India, starting at Rs 798,000

The Comet EV is the second electric vehicle in MG Motor India's portfolio and comes with futuristic and user-friendly Smart technologies

JSW Group in talks with MG Motor India, BYD India to pick up stake

Sajjan Jindal-led conglomerate JSW Group is in talks with MG Motor India to pick up stake in the automobile company, according to sources. The steel-to-sports group is also exploring purchase of stake in BYD India, they said. In January, JSW Group Chief Financing Officer Seshagiri Rao had told PTI that the manufacturing of electric vehicles is being discussed actively at the group level. The group is looking to manufacture four-wheelers, Rao had said in reply to a question on JSW Group's plan to expand its presence into more sectors. "JSW Group is in talks with MG Motor India and BYD India. The early talks are for picking up stake. Talks are on with both the companies," the sources said. When contacted, a JSW Group spokesperson declined to comment. "As a company policy at MG Motor we do not comment on speculation," a spokesperson of the automobile company said when contacted.

MG Motor to launch Comet EV in India on April 19; check details here

Comet EV will be one of the most affordable electric cars on the market and is expected to be in direct competition with Tata Tiago EV

MG Motor India reports best retail sales in March at 6,051 units, up 28%

MG Motor India on Saturday reported a 28 per cent year-on-year increase in its retail sales at 6,051 units in March, its best ever so far in a month. The strengthening of semiconductor supplies through various localisation initiatives and the easing of logistical bottlenecks have been key factors in achieving the highest ever sales, the automaker said in a statement. This momentum is expected to sustain and improve in the near future as well, it added. The company had retailed 4,721 units in March 2022. "The Next-Gen MG Hector, India's first internet SUV maintains its strong uptake in the market and has recorded its second-highest lifetime sales, since its launch, in the month of March," MG Motor India Senior Director Sales Rakesh Sidana noted. Similarly, the ZS EV has been registering good traction across market segments, he added. The automaker said it is gearing up for the launch of its forthcoming electric vehicle 'Comet'.

Intend to take decisive steps through launch of Comet: MD, MG Motor India

MG Motor India on Thursday said it has christened its upcoming electric vehicle as Comet. The name derives inspiration from the iconic 1934 British airplane which participated in the England-Australia MacRobertson Air Race, the automaker said in a statement. Urban mobility is at a point of inflexion where new age solutions are needed to address both the current as well the forthcoming challenges," MG Motor India President and Managing Director Rajeev Chaba said. As the industry moves further into the digital age, there will be an exceedingly large number of innovations that could range from futuristic technologies to unique designs to clean mobility and many others, he added. "We at MG, through 'Comet', intend to take the needed decisive steps and a 'leap of faith' in the direction of creating solutions for a better future for each one of us," Chaba said.