Exciting News for Electric Car Enthusiasts: Get ready to save up as MG Motor gears up to challenge Tata Motors with the introduction of two new electric cars in the Indian market. With recent funding from the JSW Group, MG Motor is focusing on expanding its electric vehicle business on a large scale, aiming to rival Tata Motors with enthusiasm and innovation.
New Models Based on E260 EV Platform:
According to several media reports, MG Motor is preparing to launch two new electric cars based on the E260 EV platform. The upcoming cars are expected to include a 5-seater SUV and a compact MPV, with anticipated prices below ₹15 lakhs.
Launch Timeline and Features:
The new MG electric vehicles are likely to hit the roads within a year. If everything goes as planned, the models could be launched before the end of 2024. The upcoming MPV, based on the Wuling Cloud EV, is currently sold in Indonesia. It measures approximately 4.3 meters in length with a wheelbase of 2,700 mm, slightly shorter than the Maruti Ertiga (2,740 mm) and slightly longer than the Renault Triber (2,636 mm).
Competition in the Indian Electric Car Segment:
Tata Motors currently dominates the electric car segment in India, accounting for over 75% of total electric car sales. On the other hand, MG Motor holds a market share of around 1% in the Indian car market. MG Motor sells its 5 models in India and records approximately 5,000 unit sales per month. Electric cars contribute 10% to 20% of its total sales volume.
Conclusion: With MG Motor’s strategic focus on expanding its electric vehicle lineup and challenging established players like Tata Motors, the Indian electric car segment is set for increased competition and innovation. Stay tuned for more updates on the launch and features of MG Motor’s new electric cars.