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Automaker MG Motor India is exploring the assembly of batteries for electric vehicles and repairs at its Halol manufacturing plant.
The company will explore battery cell manufacturing along with third parties.
“With a focus on electric vehicles, we’ll explore battery assembly and repair at our plant and cell manufacturing with third parties to advance sustainability efforts. While we remain committed to exploring innovative technologies, specific plans for manufacturing hydrogen cell fuel and other technologies will be communicated as developments unfold,” said Rajeev Chaba, CEO Emeritus, MG Motor India to businessline.
- Also read: Auto sales: MG Motor sales grow 18% in 2023
With the uptick in demand, the company is also looking at expanding its Halol plant. “We are evaluating opportunities to enhance capacity and streamline operations in line with market requirements,” he said.
The company last year had announced an investment of ₹5,000 crore in its India 3.0 plan. The investment will be used for the expansion of manufacturing plants in Halol and to hire nearly 20,000 employees (direct and indirect).
Further, the company is also planning to establish a second manufacturing unit in Gujarat that would increase its production output up to 3 lakh vehicles.
MG Motor India’s electric vehicle sales contribute to up to 30 per cent of overall sales. Under the MG Charge initiative, the company has installed 500 charging points across residential societies, hotels, educational institutions, and private apartments. They plan to reach 1,000 chargers within 1,000 days.
Stake dilution
JSW acquired a 35 per cent stake in MG Motor India. Going ahead, the company is looking to partner with domestic players.
“We continuously explore opportunities to collaborate with domestic players and enhance our operational capabilities. There is a growing trend of foreign automakers seeking partnerships with Indian companies to gain market access, leverage local expertise, and navigate complex regulations. This trend could lead to further collaborations and acquisitions in the Indian automobile industry,” added Rajeev Chaba.
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