MG Motor aims to shake up EV space with new offering1 min read . Updated: 05 Dec 2019, 11:13 PM IST
- The automaker plans to bring in a long-range electric SUV named ZS next month
- MG Motor is betting on the upcoming EV to establish the brand in the domestic market
China’s MG Motor, which entered India only in June this year, plans to launch an electric vehicle as its second offering to take on more established rivals, said Rajeev Chaba, president and managing director of MG Motor India on Thursday.
The company will bring in a long-range electric sport utility vehicle (SUV) named ZS next month to compete with Kona from Hyundai Motors India Ltd, which was the first to enter the segment earlier this year.
The company is betting on the upcoming electric vehicle to establish the brand in the domestic market, Chaba said, as competing in the mass-market segment with Maruti and Hyundai, the top two vehicle manufacturers, during the initial years will not be a prudent move.
MG Motor’s first product in the Indian market was Hector, marketed as the country’s first ‘internet car’.
“In India, if you can bring technology at the right price, there are takers," Chaba said on the sidelines of an event where the company showcased the ZS electric vehicle. “It will be a few hundreds to start with and then depending on the situation, we will increase the volumes," he said.
The demand for electric vehicles in India is still nascent, but Chaba said Indian consumers are likely to catch up with the growing global preference for such vehicles. The company also hopes to take advantage of the Indian government’s efforts to promote the use of electric vehicles under the Faster Adoption and Manufacturing of Electric and Hybrid vehicle scheme, for which ₹10,000 crore has been earmarked for a second phase.
South Korea’s Hyundai Motor was the first to launch a long-range electric vehicle in India, Kona, which has found wide acceptance among affluent retail customers. Hyundai executives said the company has orders for around 300 units of Kona, which is far more than what it had anticipated.
The company has invested around ₹500 crore to introduce the vehicle to India and has appointed nine dealerships in five cities.
Home-grown Tata Motors Ltd and Mahindra and Mahindra Ltd had launched their electric vehicles two years ago, but these did not attract too many customers, according to industry watchers. “Whatever electric vehicles we have seen in India till now are previous generation ones but the ZS is the new generation product. Hence, customers need not worry about battery life cycle," said Chaba.