MG Motor India has secured the trademark for 'Excelor EV' in India, potentially marking the debut of its third electric vehicle in India. Since its submission in December 2023, this trademark has been both authorised and made public. In the Indian market, MG currently offers the Comet EV and the ZS EV. The Comet EV was the only new model introduced by MG in the last two years, but the prominent conglomerate JSW recently acquired a 35% stake in the company's Indian business, so MG's growth in the country is expected to pick up speed. In a joint event with JSW, MG is set to showcase a new electric vehicle and discuss its plans for the Indian market on March 20.
Excelor EV: What we Know so Far
The Excelor EV's dimensions, features, and body type are yet unknown. Importantly, the Excelor EV model is not available in any of MG's foreign markets at this time. Keep in mind that getting a trademark just guarantees you may use the name, not that it means a specific model is about to be released.
For the year 2024, MG has officially announced the launch of two new vehicles. One of these is the 2024 MG Gloster, which will get a mid-life upgrade that will bring some cosmetic and functional improvements. The Excelor EV, as suggested by the trademark, could be the other electric vehicle that is expected to be launched.
Just recently, JSW acquired 35% of MG Motor India, setting the stage for an exciting collaboration. The goal of MG's partnership with JSW is to strengthen its position in the Indian market through the promotion of innovation and growth through joint ventures. On March 20, the joint venture is expected to reveal its ambitious ambitions and strategic initiatives in an upcoming statement. In preparation for the rise of electric vehicles, MG is moving in the direction of a greener future. The business plans to introduce up to five new models by 2028, with a strong focus on battery electric vehicles. This demonstrates MG's proactive stance in embracing the electric revolution.
In order to finance the building of a second production site in Gujarat, MG announced its intention to raise Rs 5,000 crore. Raising the brand's total production capacity to 300,000 units per year is the objective of this strategic strategy. The bulk of MG's five new models, which will be unveiled by 2028 as part of its 3.0 programme, will be electric vehicles. The automaker expects electric vehicles to account for 65–75% of its overall sales in India over the next five years, predicting a dramatic change in customer preferences. There will be more updates regarding MG's plans in India on March 20.
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