New MG EV to launch in 2024 Festive season

MG with the launch of Hector in 2019 has managed to establish itself as a key player in the Indian market and with a lineup of premium vehicles, MG Motor India has been an active participant in the EV segment too, currently offering the Comet and ZS EV. Now the brand is prepping to launch another EV in India and it is actually confirmed.

MG EV Upcoming

Recently, Rajeev Chaba, MD of MG Motor India has confirmed officially that the brand is on its way to launch a new EV later this year. This is an excellent move by MG Motor to increase its footprint in India since currently, EVs constitute 2% of all passenger vehicle sales in India with a projected growth of approximately 15% to 20% by the end of this decade. In fact, many Indian manufacturers are gearing up to launch several new models including EVs.

Currently, 25% of MG Motor India’s sales is contributed by EVs and the upcoming EV launch is expected to boost the sales figures. The brand is also likely to potentially increase its Halol Plant’s capacity from 80,000 to 90,000 units in 2024 since last year around 60,000 vehicles were sold in India.

MG Yep

This EV is also potentially the first vehicle under MG after their joint venture between SAIC Motor and JSW Group. Keeping that in mind, the brand’s operation expansion plans in India are possible due to JSW Group being a key contributor as a result of holding a 35% stake.

Since the Indian market has shown strong growth in the SUV segment, it’s possible for MG to bring the Baojun Yep e-SUV in India, which is based on the Comet and has an affordable price tag with good design, which could become a formula for success for the brand in India, albeit the Baojun is a bit small and impractical.

MG YEP Plus

Apart from this, MG is set to increase its portfolio by the end of 2025, with a new EV on its way by this year’s festive season. Potential launches for this year include the MG4 E-hatchback, MG5 Electric estate car and Mifa 9 E-MPV, considering they were showcased at last year’s Auto Expo.

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