MG expects EV penetration in India to hit 4% in CY24
Automation, skilled talent requirements, along with active measures to improve gender representation drive female hiring in the automobile industry
Fair trade regulator CCI on Tuesday said it has granted approval to JSW Group's proposed acquisition of a stake in MG Motor India Pvt Ltd. MG Motor India is a wholly-owned subsidiary of Shanghai-headquartered SAIC Motor. The deal is to be done through JSW Ventures Singapore Pte, a newly incorporated entity that is part of the Sajjan Jindal-led JSW Group. The proposed transaction relates to the acquisition of up to approximately 46 per cent of the share capital of the MG Motor India Pvt Ltd along with certain special rights by the JSW Ventures Singapore Pte, as per the notice submitted to the Competition Commission of India (CCI) by the entities. As per an update on CCI's website on Tuesday, the regulator has approved the proposed deal.
In November last year, the JSW Group had announced the acquisition of a 35 per cent stake in MG Motor India
The MG Astor 2024 boasts to be the most advanced SUV, with in-built personal AI assistant
Carmakers, dealers offering discounts up to Rs 4 lakh
MG Motor India on Monday said it will hike prices of its vehicles in the country with effect from January 2024. The hike is owing to the rising costs attributed to overall inflation and increased commodity prices, the company said in a statement. MG Motor, however, did not disclose the quantum of price hike it plans to take from next month. Maruti Suzuki, Mahindra & Mahindra and Audi India have also announced plans to hike prices of their passenger vehicles in January 2024 citing reasons, including cost pressure driven by overall inflation and increased commodity rates. Besides, Tata Motors and Mercedes-Benz India are mulling increasing the prices of their models from January.
Average October discounts are up 40-50% compared to last year
For the financial year ending in 2023, MG Motor India had a 1.26% share in India's passenger vehicle segment
MG Motor India on Sunday reported a 31 per cent year-on-year growth in retail sales at 5,003 units in September 2023. Sales of electric vehicles continue to contribute around 25 per cent of the total sales of the company, MG Motor said in a statement. Both the ZS EV and the Astor Black Storm models have received positive response from customers, it added.
MG Motor India on Friday reported a 9 per cent year-on-year increase in retail sales at 4,185 units in August. The automaker had sold 3,823 units in August 2022. The carmaker is gearing up and building further on the current momentum in the festive season, MG Motor India said in a statement. The company is readying the introduction of the Black Edition of its mid-sized SUV Astor, it added.
In talks with several Chinese players for tech partnership; in race to buy stake in MG Motor
The sales of EVs in India jumped 137 per cent to 48,000 units in HICY23 as compared to H1CY22
MG Motor India on Friday said it has tied up with electric mobility service provider IONAGE to strengthen charging infrastructure across the country in order to promote intercity travel by electric vehicles. The partnership was officially announced with the inauguration of ten destination charging stations across Lucknow, Trivandrum and Cochin. As part of the tie-up, MG Motor will leverage IONAGE's e-mobility platform to provide seamless access to EV owners of MG Charge points, the automaker said in a statement. MG Charge is an industry-first initiative by any original equipment manufacturer (OEM) to empower destinations like hotels, residential societies, public locations, and corporates to embrace green transportation and future-proof their property and communities. "This collaboration represents our endeavours to empower EV owners and operators with a seamless charging experience. The collaboration also reaffirms company's commitment to supporting promising startups like IONAGE
MG registered its highest-ever retail sales of 6,051 units in March 2023
The car also comes with Traffic Jam Assist (TJA) to facilitate a smoother driving experience
MG Motor India is on track to achieve over 25 per cent of total sales from electric vehicles this fiscal year as it continues to enhance its product portfolio, according to company Deputy Managing Director Gaurav Gupta. The company has already crossed the 10,000 unit cumulative sales milestone of EVs in the country. On Wednesday, the automaker introduced a top end variant of its electric SUV ZS EV equipped with level two autonomous driving technology priced at Rs 27.89 lakh for a limited period. "We had mentioned earlier that in this financial year also we will see upwards of 25 per cent of our portfolio coming in from electric vehicle sales. At this point in time, we would like to hold that metric and work towards it," Gupta told PTI. He further said, "This will only increase as we go along in terms of new products and also the growth of our current portfolio. We are building up on that journey. Since the Comet is just a recent launch, I think we have started on that journey and i
MG Motor India on Saturday reported 14 per cent increase in retail sales at 5,125 units in June 2023 as compared to the same month last year. The company had posted a retail sales of 4,504 units in June 2022, MG Motor India said in a statement. "Supplies were disrupted in the wake of cyclone Biparjoy though customer demand should now gain momentum following the monsoon as India gears up for a long festive season," it said. In the second quarter (April-June) of 2023 , the company said its sales were at 14,682 units as against 10,519 units in the year-ago period, a growth of 40 per cent.
When concluded, the deal will leave at least 51 per cent stake of the company in Indian hands
The move comes as BluSmart intensifies its battle against Uber Technologies Inc and Ola Cabs