MG Motor India, the subsidiary of Chinese automobile maker SAIC, on Monday said it will invest ₹3,000 crore in the next six years. The company has already invested around ₹2,000 crore till now.

The investment will cover upgradation of its Halol plant – including the construction of a new press shop and the modification of assembly lines and other facilities – progressing at a fast pace, the company said. MG Motor India has also initiated talks with various suppliers to achieve high levels of localisation, it said.

The company has started inviting dealer prospects for its Dealer Road Shows scheduled to be held in Mumbai on March 28, in Delhi on April 6, and in Bengaluru on April 16.

“The MG brand seeks to embrace the incredible technology of the future while cherishing its great British heritage. We are moving forward swiftly on our India strategy and building a strong organisation to embrace the future. Our aim is to provide vehicles that will be new-age and very contemporary, with a premium image and great value," Rajeev Chaba, President and Managing Director, MG Motor India, said.

As part of the ‘Make in India’ initiative, the carmaker has also announced that its first vehicle in the country will be launched ahead of schedule in the second quarter of 2019. Going forward, the company plans to introduce one new product in the Indian market every year, Chaba said. Led by strong R&D efforts of its parent company SAIC, MG Motor India is also considering offering new energy vehicles and looking to work with all stakeholders involved to implement the technology commercially, he added.

Related Topics
comment COMMENT NOW