Chinese automaker SAIC is all set to enter the Indian market with the MG Motors and is in the final stages of acquiring the Halol manufacturing facility from General Motors.
Speaking to Autocar India, President and Managing Director of MG Motor India, Rajeev Chaba revealed the automaker's plans for the Indian market. The report also suggests that the first product from MG Motors will be a compact SUV which will rival the Hyundai Creta.
Chaba said that in the first phase SAIC will invest Rs 2,000 crore to refurbish the Halol manufacturing plant and will increase the annual production from 60,000 units to 80,000 units. The company believes that with such a capacity it can cater the Indian market for the next five years.
But Chaba did not reveal any information regarding the product portfolio of MG Motors. As per emerging reports, the first product is likely to be a compact SUV to rival Hyundai Creta.
The compact SUV will be followed by a small MPV and a hatchback. Chaba revealed that the first launch would take place in 2019 and the second launch is slated for 2020.
Currently, MG Motors retails the MG ZS SUV in the Chinese market. It is based on the shortened iteration of the MG GS platform. The SUV will go on sale in the UK by the end of 2017. The hatchback is expected to be the next-gen MG3 which recently received a facelift in China.
MG Motors will make its India debut in 2019 with a compact SUV to rival Hyundai Creta. The utility vehicle segment is extremely popular in the country, so SAIC has decided to launch an SUV before the introduction of a hatchback.