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New Delhi: JSW MG Motor is targeting to make 70-80 per cent of sales from EVs in the coming years, with MD and CEO Anurag Mehrotra confirming that equal pricing of electric cars with petrol cars is arriving, as reported by Autocar India. A big example of this is models like the Windsor, starting at Rs 9.99 lakh, which has been a great aid in the brand’s growth, making a good dent in the market share of the electric car segment, growing from below 10 per cent to 10 per cent in just two years.
EVs have become a quintessential part of the auto biosphere, with the running costs at Rs 1.2 per km coming cheaper than a petrol car’s 6.7 per km. Which means an owner of an EV on average manages to save Rs 80,000 in a year for driving 15,000 km. Plus, in terms of maintenance, EVs are much cheaper than ICE cars as there are fewer mechanical parts. Mehrotra noted that these advantages remain even after the GST cuts on petrol and diesel cars, he said in an interview to Autocar India.
JSW MG has understood that they have an area in the market where they can play better with new energy vehicles and access to SAIC’s technology, making for quicker launches. The premium MG Select channel is also increasing their accessibility with halo products that include the Cyberster roadster and the M9 MPV, which, despite the supply constraints, managed to go for 170 units last month.
The brand’s biggest growth, they feel, is in the new energy space for them. The technology access from their parent company, SAIC, means they can push their development and bring more mature products to market quickly.
Of course, they still have 20-30 per cent of the portfolio in ICE for balanced transition. The likes of MG Hector and Gloster are still giving serious competition in their segment. For now, the immediate priority remains localisation and profitability, though it is a shift to EVs going into the mainstream that is inevitable.
It isn’t just MG, of course. More carmakers are moving towards the EV sector, which is going from niche to mainstream. With Maruti Suzuki’s entry in the sector, it is becoming highly competitive now.
