MG Motor India to launch 5 new cars by 2028, to invest in hydrogen-cell tech

By Team Pune Media On May 25, 2023 39

MG Motor India is exploring cell manufacturing and clean hydrogen-cell technology through owned or third-party facilities.

MG Motor India has announced its 5-year business roadmap to increase the brand’s shareholding in India over the next 2-4 years. The company intends to launch 4-5 new cars, mostly EV models, and achieve 65-75% of its sales from the EV portfolio by 2028. MG also plans to localise and bring in the latest technology enhancing local sourcing and manufacturing across its operations by 2028.

MG Motor India is exploring cell manufacturing and clean hydrogen-cell technology through owned or third-party facilities. It also plans on expanding production capacity with a second plant in Gujarat; introducing more electric vehicles. The company aims to invest more than Rs. 5,000 crore and have a total of 20,000 workforce—both direct as well as indirect—by 2028. MG’s 3.0 vision plans to dilute the shareholding with the majority to be owned by Indians in 2-4 years.

Also Read: MG Comet vs Tata Tiago EV vs Citroen eC3: Variant-wise price comparison

As part of its growth plan, MG Motor India plans to establish a second manufacturing facility in Gujarat increasing the combined production output from the current 1.2 lakh to 3 lakh vehicles.

MG to locally manufacture EV components

MG Motor India also aims to establish a battery assembly unit in Gujarat to aid the widespread adoption of electric vehicles and strengthen local. The company will invest in advanced clean technologies, including hydrogen fuel cells and cell manufacturing, as well as bolster local manufacturing of EV parts through JVs or third-party manufacturing.

Under MG’s Nurture program, MG India will collaborate with 50 institutes to train 1 lakh students on emerging technologies related to EVs, connected cars and ADAS systems.

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