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MG Motor India Outlays INR 800 Crore to Produce Comet EV in Gujarat

Since, it is ready to launch the Comet next month, MG Motor India explains it anticipates 30 percent of its sales to obtain from the EV segment this fiscal year.

April 24, 2023. By EI News Network

The company outpaced even in the last March, and expects EVs to comprise 30 percent of its total sales volumes.

While preliminary view its electric car Comet, MG Motor India declared that it has invested worth INR 800 crore to produce the car locally at its plant in Halol, Gujarat.

The company expects a strong sales record and will be slowly progressing the production of this two-door electric car to about 3,000 units a month.

Meanwhile in the product launch, MG Motor India declared that the Comet will be furnished with a 17.3 KWH li-ion battery and can be totally charged in about seven hours.

Since, it is ready to launch the Comet next month, MG Motor India explains it anticipates 30 percent of its sales to obtain from the EV segment this fiscal year.

The company has sold about 10,000 units of ZS EV till now and anticipates sales of the model to reach 1,000 units a month this year. Last year, the ZS EV consist of 12 percent of its total sales volume.

The sale of electric passenger vehicles is accelerating greatly in India, from about 50,000 units last year to reach about 125,000-130,000 units this year.

Moreover, in FY 23, anticipation of 30 percent of overall sales of around 80,000-90,000 units to obtain from the two electric models.

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Lithium-ion batteries