MG Motor to invest ~2,500 cr to ramp up Halol capacity

MG Motor India is investing ~2,500 crore by the end of next year to increase the production capacity at its Halol plant in Gujarat, as it gears up to launch its midsize SUV Astor, according to a top company official. Despite the worsening semiconductor shortage situation, which is likely to continue for at least another six months, the company expects its sales this year to grow by up to 100 per cent over last year. "We have done an investment of ~3,000 crore already, and by the end of next year, we will do another ~2,500 crore. We will reach a total of ~5,500 crore," MG Motor India President and Managing Director Rajeev Chaba told PTI. The investment will be for adding further capacity as the company prepares to meet demand of new models, including the mid-size SUV Astor, which is expected to hit the market around Diwali.