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MG Motors India plans to invest Rs 5,000 crore in the next 3 - 4 years including the Rs 2,000 Crore already invested last year. ET Auto reports, the SAIC-owned MG Motors, plan to use the investment to cater to product development, plant marketing and EVs in India.
Led by the R&D efforts of its Chinese parent company; SAIC, MG Motors in India plan to launch one new product every year starting from 2019. The carmaker announced that its first launch is scheduled in the second quarter of 2019.
In its first phase in India, the company plans to have a production capacity of 80,000 units per annum. The company inaugurated its first manufacturing plant in India with an initial investment of Rs 2,000 crore in September 2017.
The upgrade of the Halol plant along with modification of assembly lines and other facilities have begun in full force. MG Motors has initiated talks with multiple suppliers for a more localised production. The plant is spread across 170 acres of space and will be completely revamped by 2019.
MG Motors India is also looking into dealer prospects by conducting dealer roadshows across various cities in India. Starting from Mumbai on 28th March, the dealer roadshow will head to Delhi and Bangalore on the 6th and 16th of April respectively. The company will be looking for partners who surpass industry standards and set new benchmarks.
The company has already appointed 150 employees in India and are now planning to employ a further 900 - 1000 people by the end of this year. Looking to build a future-ready organisation, MG Motors India is looking at creating a young and smart work culture while also hiring female employees for diversity.
Rajeev Chaba, President and Managing Director, MG Motors India stated that the company aims to hire an increasing number of female employees and put them in the driver seat to break the monotony in the industry.
Thoughts On MG Motors India Investment
With a strong British Racing History, MG Motors India will aim to set up a strong base in the country. The company will definitely offer stiff competition in the Indian market, but they will have to face a lot of challenges initially.