MG Motor India will invest Rs 2,500 crore over the subsequent two years to drive in two new vehicles and expand production capacity at its Gujarat facility to achieve sales of 100,000 units by 2021.
“We will launch a high-end sports utility vehicle, Gloster, within the festive season this year. This would be followed by a midsize SUV in 2021," told by Rajeev Chaba, MG Motor India president. “With these four products, we aim to sell 100,000 vehicles annually in 2021."
The automaker targets doubling it's sales to a whopping 200,000 units by 2023.
MG Motor India's existing facility at Halol can produce 80,000 vehicles per annum. A part of the investment of Rs 2,500 crore, earmarked for the subsequent two years, would be wont to expand production capacity to 100,000 units. Beyond that fresh capacity would are available from a second manufacturing unit.
Chaba said the corporate has initiated discussions with several state governments for an appropriate location for the new plant. “We are considering several things. We are watching exporting vehicles out of India to right-hand drive markets across the planet," Chaba said, adding that a choice on the capacity and investment required at the new plant will be taken shortly.
As it currently stands, the multi-national carmaker has about 18,000 yet-to-be-completed orders for all new SUV Hector. MG Motors has another 2400 pre-orders for next-gen the ZS EV.