Morris Garages (MG) Motor India on Thursday said it is working on a sub-₹10 lakh electric car for the Indian market.
Speaking on the sidelines of an event to unveil its electric sports utility vehicle (SUV) – ZS, Rajeev Chaba, President and Managing Director, MG Motor India, said, “If electric vehicle (EV) has to become mainstream, the price point has to be less than ₹10 lakh. You have to have a smart concept...we are looking at that smart concept right now.”
He said the company is yet to decide on the shape of the car, the volumes to be produced and where to produce it.
“We want to be a serious player in this market. And this EV is a way for us to differentiate ourselves from other big players in the market. We cannot compete with other big players so easily..they have been there for 25-30 years —laid the foundation — so we need to differentiate, be disruptive,” Chaba said.
He said the company’s team has started looking at the EV concept
“Even consumer insight and acceptance of that concept is very important. If there is favourable response from consumers, it could take three years...We feel the next inflection point will come when we are able to launch EV in less than ₹10 lakh. Then the volumes will start coming,” Chaba added.
According to analysts and industry veterans, if MG is able to price the product well then it could be one of the first automobile manufacturers in India to launch an EV at such a price point.
Meanwhile, MG said it will launch the electric SUV ZS in January and prices will also be announced then. According to sources, the company may price the ZS between ₹22 lakh and ₹25 lakh.
The ZS EV is MG’s first ‘pure electric Internet SUV’ with a clean, efficient and fast powertrain. The advanced 44.5 kWh, liquid-cooled NMC (Nickel Manganese Cobalt) battery from CATL, one of the world’s largest battery manufacturers, gives the car a travel range of 340 km on a full charge. It delivers 353 Nm of instant torque and 143 PS power, accomplishing 100 kmph from a standstill in 8.5 seconds.