MG Motor India has announced its strategic five-year business roadmap in India, which includes plans to build a second assembly facility in the state of Gujarat.
The UK carmaker’s India business plans to invest over Rs5bn ($60.8m) and have a total of 20,000 both indirect and direct employees by 2028, reported TimesNow.
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With the new plant, the company intends to increase its total production output from the present 120,000 vehicles to 300,000 in the country.
The brand plans to focus on the localisation of the latest technology, as well as raise its Indian shareholding over the coming two to four years.
It intends to introduce four to five new cars in the Indian market, with most of its new models being electric vehicles (EV), reported MoneyControl.
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The company aims to achieve most of its sales in the country via EVs by 2028.
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By GlobalDataTo bolster the EV portfolio in the country, the company plans to ramp up the local manufacturing of EV components and also set up a battery assembly unit in Gujarat.
MG Motor India’s former CEO Rajeev Chaba said: “MG India’s unwavering dedication to India is deeply ingrained in our ethos. As we pave the way for our next phase of sustainable growth, we have outlined a clear roadmap and vision for 2028.
“Our growth strategy is centred around strengthening localisation, aligning more closely with the government’s ‘Make in India’ initiative while innovatively augmenting our promise consistently, and diligently meeting the evolving needs of the market.”
