Chinese-Owned MG Motor India to Roll Out Mass Market EV – BS

March 8, 2022

MG Motor envisages a quarter of its total sales coming from electric vehicles by the end of fiscal 2023, the report added.

MG Motors India EV push — MG Motor outlined an investment of 2,000 crore rupees, or $260 million, for 2021-22 and FY23 and is weighing options to raise more funds as it seeks to rev up its EV business. Photo: Reuters.

MG Motor India, which is owned by China’s SAIC Motors, plans to launch a mass-market electric vehicle priced at up to 15 lakh rupees, or US$19,000, in the April to June quarter, Business Standard reported.

MG envisages a fourth of its total sales coming from electric vehicles by the end of fiscal 2023, the report added.

Read the full report: Business Standard.

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Tags: MG Motor

Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.