On Wednesday, MG Motor India announces its plan to establish 100 new touchpoints by the end of the ongoing fiscal year in tier III and IV cities and rural markets of the country. The goal is to enhance accessibility and bring the brand closer to customers as the strategy is to fuel the next phase of growth.
This is days after signing an MOU with Adani TotalEnergies E-Mobility Limited (ATEL) to strengthen the EV charging infrastructure in India. This will benefit value-added services to MG’s EV customers nationwide.
The joint venture (JV) was entered into with JSW Group, which came in as an investor last month. The company announced plans to invest Rs 5,000 crore and had set a target of selling one million passenger electric vehicles in
India by 2030 when the total market is expected to be 10 million units annually.
Further, the company is targeting 520 sales and service touchpoints overall in 270 cities by the end of 2024-25 with the aim to attain 100 per cent nationwide coverage. Currently, the company has about 380 touchpoints, which cover about 170 cities.
The Chief Commercial Officer of MG Motor India, Satinder Singh Bajwa, in a statement, expressed the happiness of the company by this move. He said, “We are thrilled to transition into MG 2.0, the next phase of our journey in India. As we evolve with the market, it is essential for us to extend the brand’s network to new territories, ensuring seamless sales and after-sales support. We are working towards introducing 100 new MG dealerships this year, tailored particularly for rural and tier-3 and -4 cities.”
How does the company plan its expansion?
The official further added, “So keeping that objective in mind, we are now looking at how we can improve our reach and depth in terms of our network as a first step”.
The company has set plans for enhancing production capacity and more model introductions going forward.
It will be introducing “tailored” showrooms, particularly for rural, Tier III, and Tier III cities. These will sell vehicles with different technologies, including electric, hybrid, and conventional engines, to cater to the requirements of different customers. This will improve its footprints in the Indian market and bring the brand closer to the consumers, gaining their confidence and trust.
Additionally, the company is increasing its annual production capacity from 1 lakh units to up to 3 lakh vehicles. It will be setting up a second manufacturing unit at Halol in Gujarat.
About the company
MG, an abbreviation of Morris Garages, is an automotive brand owned by the Shanghai-based, state-owned carmaker SAIC Motor. It continues the original MG marque, a British brand established in 1924 in Oxford, UK.
