fbpx

Type to search

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

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.

 

ALSO READ:

 

 

China-Owned MG Motor India Seen Planning EV Fundraising Push

 

SAIC Mobility, Momenta Plan Robotaxi Trials in Shanghai

 

SAIC Motor and Alibaba join forces to create Tesla rival

 

 

Tags:

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.