In order to grow sustainably in India and expand its activities, MG Motor has unveiled a new five-year business roadmap. The British automaker intends to do this over the following two to four years by boosting its Indian holdings and localizing its products using cutting-edge technologies.
By 2028, MG Motor will concentrate on improving local sourcing and production across its activities as part of this roadmap. It intends to investigate cell production and hydrogen fuel-cell technology using facilities that it owns or that belong to other parties. By 2028, the automaker will also have invested over Rs. 5,000 crores, and it will have directly and indirectly employed a total of 20,000 people.
The aggregate production output from the present 1,20,000 to 3,00,000 automobiles (taking into account the capacity of both facilities) will increase dramatically as a result of MG Motor’s intentions to build a second manufacturing facility in Gujarat. By 2028, the business hopes to have 65 to 75 percent of its sales come from its portfolio of 4–5 new cars, most of which will be electric.
MG Motor will increase domestic production of Electric Vehicles parts and set up a battery assembly facility in Gujarat in order to enable the wider use of electric vehicles. Additionally, the business intends to investigate hydrogen fuel-cell technologies to lessen its carbon footprint.
The updated road map reaffirms MG Motor’s dedication to India’s goal of developing into a significant manufacturing hub. By creating new job possibilities, encouraging homegrown production, and aiding India’s shift to clean energy, the company hopes to have a significant social impact with this growth.
Rajeev Chaba, president and managing director of MG Motor India, stated, “We are thrilled to launch our new business roadmap that will enable us to operate indigenously, boost local manufacturing and sourcing, and achieve sustainable growth.
He continued, “Our investments in cutting-edge clean technologies, such as hydrogen fuel cells and cell production, underline our commitment to advancing clean energy and lowering our carbon footprint.
Aside from this, it is also said that MG Motor intends to float an initial public offering (IPO) by 2028 and dilute its dominant shareholding. Several possibilities, including raising money through private equity and selling a portion of the share to strategic investors, are being investigated by the corporation, according to the sources, in order to accomplish this goal. The decision was made as MG Motor India seeks to increase the scope of its activities in India and take advantage of the rising interest in electric cars there.
