MG Plans Sub-10 Lakh Electric Hatchback & Two More EVs For India

MG SC Concept

MG is planning to introduce a whole range of electric vehicles including a small hatchback with a starting price of below Rs. 10 lakh in India

MG Motors India is working on raising up to $500 million in private equity as it looks to expand its domestic portfolio with the arrival of new electric vehicles. The SAIC-owned brand introduced the ZS EV in January 2020 as its second model for India and is currently one of the top-selling EVs in the country. Yesterday, the SUV received a facelift as well with an improved range, exterior changes and new features.

The British manufacturer may go for a public listing at a later stage. MG was said to be considering an investment of Rs. 2,000 crore last year to expand its production capacity and apparently launch new vehicles. MG already announced that a new EV in the Rs. 10-15 lakh range will arrive next financial year and it could compete against Tata Nexon EV.

According to a recent report that emerged on the internet, MG is planning to introduce a whole range of eco-friendly vehicles including a small hatchback with a starting price of below Rs. 10 lakh. The aforementioned compact SUV and a more premium D-segment electric SUV are also in the pipeline. The electric hatchback, likely the E230, will be launched in Q1 2023.

MG SC Concept

The E230 is based on SAIC-GM-Wuling’s Global Small Electric Vehicle (GSEV) platform that can be found in a host of Chinese vehicles from Baojun and Wuling brands. The two-door EV could use a 20 kWh battery pack with an approximate range of close to 200 km in a single charge and it could come with a more powerful electric motor. It must be noted that Maruti Suzuki axed the Wagon R EV project as it could not find a strong business case with it in terms of price, practicality and range.

The C- and D-segment EVs from MG will likely sit on the Sigma architecture. To bring the production costs down, MG is also planning to localise the battery cells and has already applied for the production linked incentive scheme framed by the government of India. Late last year, MG debuted the Astor petrol midsize SUV and it has been well received amongst customers.

Over the next three to four years, we will see plenty of action from carmakers in the electric vehicle space as new investments are being brought in to develop new zero-emission vehicles.