MG Motor India has made the announcement that it will hand up approximately a the majority of its ownership in the company to Indian suitors. This move is being made in an effort to distance itself from its Chinese beginnings and have a crystal clear potential highway map. The vehicle manufacturer, which is a wholly-owned subsidiary of China’s Shanghai Automotive Business Corporation (SAIC Motor), is currently engaging in conversations with a number of Indian entities, such as key traders and corporates, in an effort to dilute its shareholdings as a component of the five- to twelve-month strategic ‘MG 3.0’ approach. By the year 2028, MG Motor India plans to have an Indian organisation serve as the majority investor in the company. The initial step in the company’s share dilution is anticipated to be revealed after that, in the year 2023.

By the year 2028, MG anticipates that electric vehicles will account for between 65 and 75 percent of the company’s revenue in India.

MG has stated that it will find a way to generate financing to the tune of Rs 5,000 crore while it is also looking for potential buyers. These resources will be put to use in the construction of a second facility in Gujarat, which will contribute to increasing the overall production capacity to 3 lakh units on an annual basis. MG’s factory in Halol, Gujarat, currently has a manufacturing potential of 70,000 units. The business plans to expand up the facility to produce 1.2 lakh models by the end of the fiscal year 2024. MG has not made public the names of the companies with which it is now negotiating a share dilution. The JSW Group, which is run by Sajjan Jindal, was rumoured to have merged with MG in April; however, the conglomerate dispelled the claims shortly after they surfaced.

Rajeev Chaba, who was previously the Managing Director and President of the automaker, has been given the new title of CEO Emeritus since the company’s strategy to increase the amount of Indian engagement has already been put into motion. Main Commercial Officer Gaurav Gupta has been promoted to the position of Deputy MD and will now co-manage the day-to-day operations of the company with the former Main Functions Officer Biju Balendran. In his previous role, Main Functions Officer Biju Balendran was responsible for managing the day-to-day operations.

Because of the deterioration in Indo-Chinese ties, which came about as a consequence of a series of conflicts along the India-China border beginning in the year 2020, MG’s investments have been put on hold for the previous number of years. MG’s programmes have essentially been put on hold because to the intense scrutiny that is being directed towards any requests for foreign direct investment (FDI) coming from China. This is the rationale why a number of Chinese carmakers, this kind of as Wonderful Wall Motorss, took a U-change on their India launch strategy in spite of having investigated the sector and planned out a business method in the course of the previous few years.

By the year 2028, MG plans to introduce up to five new products, the majority of which will be powered by batteries.

Long-term investments are likely to be approved without any significant roadblocks if MG Motor India is acquired by a single Indian buyer or a group of Indian buyers jointly holding the great majority of the company’s shares. This will be very vital for the brand to continue on its innings in India, as its long-term possibilities, at the present time, are clouded with uncertainty given the icy connections that exist between India and China.

The organisation has confirmed that it will also investigate the possibility of forming a joint venture for community mobile manufacturing, production of electric vehicle parts, and even hydrogen gasoline-mobile powertrains in an effort to bolster its ideas for alternative fuel technologies. This will be done in an effort to improve its ideas for alternative fuel technologies. Particularly noteworthy is the fact that MG had previously exhibited the Euniq 7 hydrogen gas-mobile MPV at the Vehicle Expo earlier on in this year.

As part of the 3. initiative, MG plans to introduce up to five new models by the year 2028; the “majority” of these vehicles will be powered by battery electric propulsion. According to the manufacturer’s projections, sales of electric vehicles will account for anywhere between 65 and 75 percent of the company’s total revenue in India over the next five decades. MG is currently in second place in India’s market for electrical four-wheelers thanks to the achievements of the ZS EV. The brand has just recently expanded its EV line-up in India with the launch of the mini Comet EV. This contributed to MG’s current standing.