MG Motors India is reportedly working on a new electric car which will be positioned under the INR 20 lakhs price range. The main aim this time is to reduce the cost and improve the range of the electric car. This new electric vehicle could be rebranded as the ZS EV and which is likely to be confirmed in the upcoming weeks. The electric vehicle is expected to hit the Indian roads sometime in 2022.
The electric vehicle segment in the automotive industry is witnessing leaps and bounds of development across the globe. Major automotive manufacturers are racing towards producing more cost-effective and efficient batteries. But, in India, the options are very limited and thus many carmakers are trying their best to bring in an electric vehicle which will deliver a great range and at the same time be economically feasible.
MG Motors is currently working on a new battery assembly facility in India. This facility will be aimed towards developing new technology which will help increase the longevity of the battery. An investment of 4,000 crores in this battery assembly facility will help to curtail the cost of the batteries which will enable MG Motors to price its upcoming new electric vehicle at a very competitive price. As of now, Nexon EV is the most feasible electric vehicle in the country with an ARAI certified range of 312 km and with the new electric vehicle under development MG Motors is targeting the 500 km mark.
The current electric vehicle offering from MG Motors, the ZS EV sold around 1,142 units which accounts for 25% of the total electric vehicles sold in India in 2020 and the carmaker is targeting to double the units for 2021. ZS EV is powered by a 44.5kWh lithium-ion battery which produces around 143 PS of power and 353 Nm of torque. The ARAI-rated claimed mileage is 340 km under a single charge. The electric vehicle comes in as CKD, which results in a higher price range which starts at INR 20.88 lakhs and goes all the way up till INR 23.58 lakhs (ex-showroom price).