MG Motor India will launch the much talked about ZS EV in early 2020. While this will be a very expensive EV, the company will launch more economical EVs in the distant future. For the latter, it plans to locally assemble battery packs.
MG Motor India is planning to locally assemble battery packs for EVs in India by 2021. The company will set up a battery assembly unit for EVs sold in India. It also plans to launch a mass-market EV in India by 2023.
“We want to be the leading player in the EV space and we have the technology…(and) products,” MG Motor India managing director Rajeev Chaba said. “Then we will (start) battery assembly operations in India, and that should happen hopefully in one to two years’ timeframe,” he added.
It will cost over INR 5,000 crore for MG Motor India to invest in a battery assembly unit, and MG has already committed to make that investment by 2025. Moreover, the company is also going offensive on the EV charging infrastructure front and has partnered with Fortum, Delta Electronics India and eChargeBays in order to come up with a slew of charging points across residential properties, dealerships and some public places.
“To get into the mainstream, you need to bring the cost of EV on to the lower side,” Chaba said. “It is too early for me to say but definitely to democratise electric vehicles and give a taste to most of the car consuming population, you need to go to INR 15-10 lakh and below as you go forward. So, definitely, we would like to be a part of that pie as and when the time is ready.”
The first MG EV manufactured in India is expected to hit the market by 2023. It will be considerably cheaper than the ZS EV which will cost around INR 25 lakh (ex-showroom). The ZS EV will be a direct rival to the Hyundai Kona Electric which is India's first pure electric SUV.