In the first half of the year, the carmaker sold 3,957 ZS EVs, nearly doubling its sales between January and March and April and June. For the first time in June, ZS EV’s monthly retail sales exceeded those of Tata Nexon EV, with 969 units sold. Tata Motors’ retail sales of electric cars fell 20%, whereas MG Motor’s June EV sales saw an increase of about 21% year over year.
According to the firm, Vs, which includes ZE and Comet, made up 33% of MG Motor India’s overall sales in the first half. The percentage of EV sales overall hit 40% in June. Chief Commercial Officer Satinder Bajwa stated, “There lies a huge opportunity to shape a sustainable and conducive future for our country.” Electric vehicles (EVs) may become the major car used in India.
With two electric vehicles among its five models, MG Motor made its debut in India in 2019. ZS and Comet are electric vehicle models, whereas Astor, Hector, and Gloster are versions with internal combustion engines.
The Chinese business was one of the first to produce electric automobiles that gained popularity in the market with the ZS EV.
The company’s early entry advantage allowed it to secure a sizeable portion of the electric vehicle industry, while its overall market share in the passenger vehicle segment is still only 1% to 2%.
JSW MG Motor India, a recently established joint venture between JSW Group and SAIC-owned MG Motor, is currently responsible for managing the MG Motor brand in India. By 2030, the joint venture wants to sell one million new energy vehicles, including PHEVs and EVs.
Based on the E260 EV platform, the carmaker intends to release a five-door SUV and a small MPV as two new EV models. These two vehicles, which are expected to be priced under Rs 15 lakh, will face up against the Tata Tigor X-Pres T EV and the BYD E6 MPV, respectively.
Additionally, MG Motor India is growing its network into rural areas and tier 3 and tier 4 cities. By the end of the year, it intends to establish 100 additional touchpoints, with the goal of having 520 touchpoints in 270 locations nationwide by the end of March 2025.
