MG electric SUV will be launched in the Rs. 10-15 lakh price range next FY; will more likely rival Tata Nexon EV
Less than a couple of weeks ago, MG Motor India officially announced that it is foraying into the volume-based electric vehicle space with a new model in the Rs. 10-15 lakh space in the next financial year (April 2022 to March 2023 period). It will be the British manufacturer’s second zero-emission vehicle launch as the ZS EV is already on sale.
The ZS EV is the second model MG brought into India following the Hector midsize SUV in early 2020 and it received a mid-cycle update in February 2021. It can be had in two variants currently with prices ranging between Rs. 21 lakh and Rs. 24.68 lakh (ex-showroom). It competes against the top-spec variants of Tata Nexon EV, the country’s largest-selling passenger EV and the Hyundai Kona Electric.
The ZS EV comes with a 44.5 kWh battery pack that is claimed to deliver 419 km on a single charge. MG has already sold more than 3,800 units of the ZS EV in India and it reportedly averages 700 bookings per month. It contributed to seven per cent of MG’s cumulative domestic sales this year and more importantly, 70 per cent of its total volumes came within the last 11 months.
The brand is certainly baking big on the upcoming EV as it is aimed to contribute more than 20 per cent of the total volumes, said Rajeev Chaba, President and Managing Director, MG Motor India. We do expect the EV to have an SUV/crossover body type to lock horns with Tata Nexon EV as it targets high volume sales.
Reports indicate that the 2023-bound EV will be underpinned by global architecture and it will be tuned to suit the requirements of Indian consumers. MG will target high levels of localisation to position the eco-friendly vehicle aggressively as critical and battery components could be sourced locally.
Tata Motors is riding high on the wave of momentum created by the Nexon EV since its launch and the electric vehicle portfolio was expanded with the inclusion of the updated Tigor EV based on the Ziptron technology this time around. Hyundai is also working on a mass-market electric vehicle but it could be some time away.
*Pics for reference only