MG India to Make Affordable EVs, Likely a Hatch and a Compact SUV

MG India to Make Affordable EVs, Likely a Hatch and a Compact SUV
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MG India to Make Affordable EVs, Likely a Hatch and a Compact SUV

Highlights

MG India has forayed into the electric vehicle space in our market previous year, with the launch of ZS EV. Presently it is priced between t Rs. 21.00 to 24 .18 lakh(Ex-showroom, Delhi).

MG India has forayed into the electric vehicle space in our market previous year, with the launch of ZS EV. Presently it is priced between t Rs. 21.00 to 24 .18 lakh(Ex-showroom, Delhi), the ZS EV has positioned at the higher end of the mass-market passenger vehicle(PV) segment.

As per the sources, it has been revealed that it is, price point is what, the company is targeting, we find the MG Motor EV plans are more ambitious and the company has been officially stated that, its next EV would be priced below Rs.20 lakh and it could also mean, that it may be below Rs. 10 lakh.

Baojun E200 may serve as the base for MG's budget EVs.

The recent upcoming as well as highly affordable EV from the MG will be based on its parent firm, SAIC's Baojun E200, which has been a big hit in the Chinese market. The automaker had also showcased the model, and it has been rebadged as an MG, at the Auto Expo in Delhi-NCR previous year.

The 2.5m long E200 would be powered by a 39hp electric motor and it has got a top speed of about 100 kph. Driving range for the two-door, two-seat urban runabout it pegged at 210 to 270 km on a single charge according to the NEDC test cycle.

At the Auto Expo, the MG has stated that it may look at the developing a three or four seat version for India and it may be priced under RS. 10 lakh. The company then seems to be building up on the above strategy.

All-electric compact SUV, hatchback on the cards.

Encouraged by the success of the E200 in nations such as China, MG India has come up with big plans to use the similar low cost EV skateboard for the Indian market as well in order to spawn the multiple budget-end EVs which could include a compact SUV as well as a small hatch.

Tata's all-electric compact SUV such as Nexon EV has already started its strong run, which is something which is MG has certainly taken note that, the NEXon EV has accounted, sales for about nearing to 3,805 units, the NExon EV has accounted for nearing to 64% of the overall electric PV market in the last fiscal. The MG then, would be gunning to crack the mass market EV segment in similar vein.

The company's affordable all-electric car would be positioned well below the 4.3 long ZS EV, which would deliver a range nearing to 419km from its 44.5kWh battery pack. The budget EVs would be equipped with smaller batter having a lower range; it must serve well enough within urban confines.

However, the company sources are in belief that the electric vehicles would succeed in India and they must have good performance, design as well as the ground clearance. Expect MG to factor this, while developing the upcoming products.

MG's affordable EVS to arrive after 2024.

MG India's EV programme is yet to be greenlit by SAIC, hence we expect new, budget models to arrive only after the year, 2024.

The above project would be based on a minimum volume assumption of nearing to 20,000 EV each year, an ambitious target considering that the total electric passenger vehicle market saw sales nearing to 5,04 units in the year, FY2021. MG would be looking to leverage an improvement in the customer acceptance as well and charging infrastructure and battery technology in the coming years in order to make a larger push in the EV space.


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