The MG Hector has been unveiled and the dealerships will commence bookings in a few days. The parent company, SAIC (Shanghai Automotive Industry Corporation) has planned further to make its presence strong in the Indian market and hence the company plans to launch 5 new products in the next 2 years. The brand will not run behind volumes but will focus on expanding the company’s portfolio.
The automotive market in India is a challenging place for new brands and SAIC is preparing for the future. In order to make a strong market presence, the brand is planning to launch an electric car with a price tag as low as INR 10 lakh. This will be the second electric car from the brand’s portfolio and is expected to follow the MG eZS electric SUV.
A small electric car is speculated to be the Baojun E100 that has already been spied testing in India. This small electric car that could be priced around the INR 10 lakh mark. The electric car will be sold under the MG brand, same like the Hector which is a Baojun product underneath.
The Baojun electric car, E100 will be a personal mobility electric vehicle and will be a compact car which is likely to seat only two persons comfortably. The electric car will have projector headlights, bumper integrated fog lights and plastic cladding on the sides and wheel arches. The interiors will get a digital instrument console, rotary knob drive selector, and rotary type controls for climate control and audio system. The interiors will also feature a twin tone design.
For India, the brand has planned a three phase strategy. In phase I, MG Motors will establish the brand and has already invested INR 2,300 crore and is committed to invest INR 2,700 crore more making a total investment of INR 5,000 crore. In phase II the company will introduce new products, increase production capacity, expand networks and increase localisation. In phase III the comapany will focus on volumes, market share and profitability. The plan will be employed over a 10 year span and MG will bring numerous technologies to India.