Last Updated: May 10, 2023, 17:24 IST
MG Motor India Unveils 5-Year Business Roadmap to Revolutionize Operations and Drive Sustainable Growth (Photo: MG Motor)
MG Motor India Unveils 5-Year Business Roadmap to Revolutionize Operations and Drive Sustainable Growth
MG Motor India, the renowned British automotive brand, has revealed its ambitious 5-year business plan aimed at localizing operations, adopting cutting-edge technology, and making a significant impact on Indian society. With a focus on indigenous manufacturing and increased Indian shareholding, MG Motor India plans to enhance local sourcing and production, explore cell manufacturing and clean hydrogen-cell technology, establish a second plant in Gujarat, introduce a wider range of electric vehicles (EVs), and unveil new products.
By investing over Rs. 5,000 crore and employing 20,000 individuals directly and indirectly by 2028, MG Motor India is committed to nurturing the Indian market and becoming a major manufacturing hub. As part of its growth strategy, the company will set up a second manufacturing facility in Gujarat, raising the total production output from the current 120,000 to 300,000 vehicles. The company plans to launch 4-5 new cars, with a strong emphasis on EV models, and achieve 65-75 percent of its sales from the EV portfolio within the next seven years.
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In line with India’s vision for electric mobility, MG Motor India will bolster local manufacturing of EV components and establish a battery assembly unit in Gujarat. The company’s focus on advanced clean technologies, including hydrogen fuel cells and cell manufacturing, will further contribute to a sustainable future. Rajeev Chaba, CEO Emeritus of MG Motor India, highlighted the company’s commitment to localization and innovation, aligning with the government’s ‘Make in India’ initiative.
MG Motor India also emphasized its dedication to making a positive impact on society. Through initiatives like the MG Nurture program, the company plans to collaborate with 50 institutes to train 100,000 students in EV, connected car, and ADAS systems. The company aims to empower young talent and ensure they are equipped with the skills needed for the future of automotive manufacturing. Additionally, MG Motor India is committed to promoting gender diversity, targeting a 50% diversity ratio across various roles within the organization.
The 5-year business roadmap of MG Motor India outlines a clear vision for sustainable growth, innovation, and societal impact. With a strong focus on localization, technological advancement, and nurturing talent, MG Motor India aims to redefine the Indian automotive landscape and contribute to the nation’s journey towards a greener and more prosperous future.