MG Motor India Shares 5-Year Plan; To Launch 5 New Cars, Set up New Plant in Gujarat

By Reetika Bhatt | on May 10, 2023 Follow us on Autox Google News

MG Motor, the British automobile manufacturer, recently unveiled its strategic 5-year business roadmap for the country to Indianise the business operations for long-term growth and significant societal impact. According to the company, increasing Indian shareholding over the next two to four years, improving local sourcing and manufacturing across its operations by 2028 through a comprehensive series of programmes, exploring cell manufacturing and clean hydrogen-cell technology through owned or third-party facilities, and increasing production capacity with a second plant in Gujarat are the key initiatives that would constitute this plan. Besides this, MG Motor India also plans to invest more than Rs 5,000 crore and employ 20,000 people (direct and indirect) by 2028. For a better understanding, let's have a closer look at the company's new strategy. 

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MG India Business Plan: Key Details

MG Motor India intends to build a second manufacturing facility in Gujarat as part of its growth strategy, which will significantly increase the combined production output from the current 1,20,000 to 3,00,000 vehicles (taking into account both plants' capacity), as per the firm. By 2028, the company hopes to have 65-75 per cent of its sales come from its lineup of 4-5 new cars, most of which will be electric vehicles. In order to encourage the widespread use of electric vehicles, MG Motor India will expand domestic production of EV parts and set up a battery assembly facility in Gujarat. 

The carmaker also announced it will invest in cutting-edge clean technologies, such as hydrogen fuel cells and cell manufacturing, as well as support domestic EV part production through joint ventures or third-party manufacturing to contribute to India's mission to become a significant manufacturing hub.

Here's What the Company Has to Say

Further highlighting the India roadmap, MG Motor India's CEO Emeritus 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 centered around strengthening localization, 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."

Chaba continued, "At MG Motor India, we are resolute in our commitment to fostering meaningful change. We are dedicated to investing in our talented workforce and nurturing the young talent of India through initiatives like the MG Nurture program. Under this, we envision collaborating with 50 institutes to train 1,00,000 students on the latest technologies such as EV, connected cars, and ADAS systems.”

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Furthermore, Chaba emphasised the business' emphasis on advancing gender diversity, saying, "We recognize the immense value of diversity. We have achieved a 37% gender diversity within our workforce, and we are aiming for a 50% diversity across various roles within our organization."

Apart from this, the automaker in its latest press release claimed that under its MG Nurture programme, it aims to train 100,000 students in EV, ADAS, and connected car technologies. To meet the increased demands of producing next-generation cars, the trained and skilled talent will be future-ready.

Tags: MG Motor MG Motor India MG Motor India Business Roadmap

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