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Chandigarh: MG Motor India has announced its ambitious plans for the next five years, focusing on localising its business operations, indigenising products and technologies, and expanding its electric vehicle (EV) portfolio.
As part of its 2028 strategy, the company will invest Rs 5,000 crore in India. One of the key initiatives is the development of a new manufacturing plant in Gujarat, which will increase MG Motor India's annual production capacity to three lakh units and create employment opportunities for 20,000 workers.
Besides, MG Motor India aims to explore opportunities in EV cell manufacturing and hydrogen fuel-cell technology through joint ventures or third-party manufacturing. The company plans to dilute its shareholdings to a point where majority ownership lies with Indian stakeholders within the next two to four years.
Expanding its EV portfolio is a central focus for MG Motor India. The company intends to launch four to five new all-electric models in the Indian market by 2028. The new Gujarat plant will also house a battery assembling unit to facilitate EV production. MG Motor India envisions generating 65 to 75 percent of its revenue from its EV portfolio in the future, highlighting its commitment to sustainable growth.
Rajeev Chaba, the CEO Emeritus of MG Motor India, emphasised the company's dedication to India and outlined its roadmap for 2028. The strategy revolves around strengthening localization efforts, aligning with the government's "Make in India" initiative, and meeting the evolving needs of the market while maintaining innovation, he added.
