MG Motor to invest Rs. 5,000 crore in India by 2025

MG Motor has invested Rs. 2,000 crore in its Indian operations till date. The SAIC-owned brand plans to add another Rs. 3,000 crore by 2025. 

According to a media report, the fresh investment will be used to develop new products including an electric vehicle (EV). The carmaker plans to launch one new product every year starting 2019. The additional investment will help upgrade its production facility at Halol, Gujarat, increasing the installed capacity from 80,000 units to 1,00,000 units per annum. MG Motor India also plans to increase its workforce by 1,000 employees by the end of 2018.

MG Motor India's first product would be an SUV, which is expected to be launched in Q2 of next year. According to the carmaker, localisation of 80-85% of the parts required for the SUV has been completed and the company is now in the process of setting up a vendor base.

MG Motor India has also announced that it will be conducting dealer road shows across the country to connect with prospective dealer partners. The road shows will be held in Mumbai on March 28, 2018 followed by Delhi on April 6 and in Bangalore on April 16. The company aims to setup 300 sales and service outlets in India over the next 2 years. MG Motor India is reportedly hoping to sell 2,00,000 units in the first 5-6 years.

Source: The Economic Times