‘We are targeting 25% growth in sales in CY24’

MG Motor India, which is likely to launch a new vehicle on March 20, is targeting to increase its electric vehicle penetration in the country. Rajeev Chaba, CEO Emeritus of MG Motor India, spoke to businessline on introducing new vehicles, customer response to Comet electric vehicle and expanding the dealership network. Excerpts:

What is MG Motor India’s plan for 2024?

We started the year with the launch of Astor 2024, the most advanced SUV in its class at ₹9,98,000 (exshowroom). We plan to introduce at least one new electric vehicle (EV) this year in addition to one other vehicle. In the context of 2024, our focus remains on delivering exceptional products with compelling value propositions.

We enhanced accessibility within our EV portfolio by introducing the ‘ZS EV Executive’ priced at ₹18.98 lakh and the ‘Comet EV’ that starts at ₹6.99 lakh.

What growth in sales are you targeting in CY24?

We achieved sales of approximately 60,000 units in the calendar year 2023. This year, we are targeting 25 per cent growth over the last calendar year.

MG Motor’s EV sales are nearly 25 per cent. Will it touch 35 per cent in CY24?

Our MG Comet and ZS EV models have sold over 23,000 units, contributing 2530 per cent to our total sales. We aim to increase this contribution further over the next couple of years.

Has the demographic composition of MG EVs changed?

We’re expanding in major metros and emerging tier2 cities to meet the demand for ecofriendly transportation solutions. Our data reflects a diverse customer base, with notable interest from professionals in urban centres. The ease of driving and manoeuvrability make it the perfect city car, and these attributes have struck a chord with customers across multiple societal sections, age groups and genders.

What is the company’s roadmap for the development of EV charging infrastructure?

Under the MG Charge initiative, we aim to gradually establish charging points across residential communities, golf courses, hotels, educational institutes, and apartments throughout India.

We have installed 500 charging points, with plans to reach 1,000 within 1,000 days. We have partnered with the Shoonya Zero Pollution Mobility campaign led by NITI Aayog.

What is the roadmap for the expansion of the dealer network?

MG Motor India operates close to 400 touchpoints across 162 cities. We plan to extend this to 500 touchpoints by the end of 2024. Our strategically positioned MG service centres, guarantee prompt assistance with a response time of just 30 minutes.

Under the MG Charge initiative, we aim to gradually establish charging points across residential communities, golf courses, hotels, educational institutes, and apartments throughout India

RAJEEV CHABA

CEO Emeritus, MG Motor India