- MG to launch a new affordable EV in India in Q2 2023 priced around Rs 11 to 15 lakh
- MG may be looking to challenge Tata Motors’ dominance in the EV segment in India
- The new EV is likely to be positioned as a more premium product than the Tata Tiago EV
MG is working towards the launch of a new mainstream EV in India targeting the affordable segment to take on the likes of EVs from Indian automaker Tata Motors. Tata Motors recently launched India’s most affordable EV, the Tata Tiago EV hatchback. MG wants to contend Tata’s dominance in the growing EV sector and is ready to launch a new city-biased EV and is likely to price it in the Rs 11 to 15 lakh segment.
Tata Motors currently has four EVs on offer that include the new Tata Tiago EV hatchback, the Tata Tigor EV sub-4m compact sedan, the Tata Nexon EV Prime and the Tata Nexon EV MAX SUV. The new Tiago EV and the Tigor EV cater to the Rs 9 lakh to Rs 14 lakh EV market in India.
MG to challenge Tata’s EV dominance with new affordable EV for India
Rajeev Chaba, President and Managing Director, MG Motor India, told ET about the company’s ambition to localise components especially battery constituents to keep prices in check. The company aims to launch its affordable EV car in India in Q2 2023, i.e. April to June.
MG is also looking forward to build and grow an ecosystem to cater to its EV market in the country. Rajeev also highlighted the goals of collaborating with startups to deliver customised battery chemistry and charging solutions for the country. The top boss also spoke about the country’s EV market potential and said that it will stay robust in the future. MG also plans to ramp up production of its MG ZS EV compact SUV to 500 units a month.
However, the upcoming MG EV will be slightly above the Tata Tiago EV in terms of pricing. Rajeev Chaba told Autocar India, “We don’t believe in giving the proposition of the cheapest car in its segment. Our focus rather is on offering good value along with contemporary technologies to our customers. We are looking at creating our own segment and providing a unique urban-mobility solution with our new EV.”
The upcoming EV is also likely to be equipped more generously than the Tata Tiago EV. So despite MG’s efforts to bring upto 60 percent localisation, the most affordable EV from the company will still be dearer than the aggressively priced Tata Tiago EV.
MG currently sells the MG ZS EV compact EV SUV in India and starts at a price of Rs 22.58 lakh (ex-showroom). It features a 50.3kWh battery pack paired with a 174bhp electric motor. This powertrain combination claims a range of 461km on a single charge. It gets 17-inch alloy wheels, comprehensive safety equipment, a panoramic sunroof, 10.1-inch central touchscreen, a digital instrument cluster, auto ac, powered seats and more.