The MG Comet EV not solely boasts shorter ready instances however can be available in two cities
If you’re planning to ebook an EV this month, you would possibly encounter ready instances of as much as 2.5 months on Tata and MG EVs. Let’s check out the ready durations for all EVs priced beneath Rs 15 lakh within the high 20 cities of India, not together with the Tata Nexon EV as solely its base variant falls beneath that worth class.
Note: We haven’t included Citroen eC3 within the listing as there isn’t any information obtainable for a similar.
Waiting Period Table
City
MG Comet EV
Tata Tiago EV
Tata Tigor EV
Tata Punch EV
New Delhi
No ready
2.5 months
2-2.5 months
2-2.5 months
Bengaluru
2 months
2 months
2-3 months
2-3 months
Mumbai
2-3 months
2 months
1.5 months
2.5 months
Hyderabad
1.5 months
2-2.5 months
2 months
2 months
Pune
1-2 months
2 months
2 months
2 months
Chennai
1.5-2 months
2 months
2 months
1.5-2.5 months
Jaipur
No ready
2 months
2-3 months
2 months
Ahmedabad
No ready
1.5-2 months
1.5-2 months
1.5-2 months
Gurugram
1-2 months
2 months
2-3 months
1 month
Lucknow
2 months
2 months
2-3 months
2 months
Kolkata
1.5 months
2 months
2 months
2 months
Thane
2-2.5 months
1-2 months
2 months
1.5 months
Surat
1-1.5 months
2 months
2-3 months
2 months
Ghaziabad
1.5 months
2 months
2 months
2 months
Chandigarh
3-4 months
2 months
2 months
2-2.5 months
Coimbatore
2 months
2 months
2 months
2 months
Patna
1.5-2 months
2 months
2 months
2 months
Faridabad
2 months
2 months
2 months
2 months
Indore
1-2 months
2 months
2 months
2-2.5 months
Noida
2 months
2 months
2 months
2 months
Key Takeaways
The MG Comet EV, probably the most reasonably priced electrical automotive on the listing, has a mean ready interval of 1.5 months in April 2024. However, for residents of New Delhi, Jaipur, and Ahmedabad, the Comet EV is available for supply.
Tata’s entry-level electrical automotive, the Tata Tiago EV, has a mean ready time of two months in most cities this April. If you reside in New Delhi or Hyderabad, it would take greater than 2 months to get your fingers on Tata’s electrical hatchback.
The Tata Tigor EV is witnessing a mean ready time of as much as 2.5 months in April 2024. It may additionally stretch to as much as 3 months if you happen to ebook the Tigor EV in Bengaluru, Jaipur, Gurugram, Lucknow, and Surat. However in Mumbai and Ahmedabad, you would possibly get the supply of the automotive in lower than 2 months.
Tata’s latest electrical automotive, the Punch EV, which was launched in January this 12 months, can be experiencing a mean ready interval of over 2 months in April 2024. In reality, residents of Bengaluru may need to attend for as much as 3 months.
Disclaimer: The ready interval talked about above for every mannequin could differ relying on the state, metropolis, and variant or color chosen. Please contact your nearest dealership for extra particulars.
The Comet EV now additionally will get a 7.4 kW AC fast-charging possibility with the higher-spec Excite and Exclusive variants
MG Comet EV variants at the moment are referred to as Executive, Excite, and Exclusive.
The Comet EV’s new options embody ESC and an digital parking brake.
MG ZS EV’s revised variant lineup is Executive, Excite Pro, Exclusive Plus and Essence.
Its new Excite Pro variant will get a panoramic sunroof, a ten.1-inch touchscreen and 6 airbags.
No modifications have been made to the electrical powertrains of the 2 MG EVs.
Prices of the Comet EV vary from Rs 6.99 lakh to Rs 9.14 lakh.
The ZS EV is now priced between Rs 18.98 lakh and Rs 24.98 lakh.
The variant lineup of each the MG Comet EV and MG ZS EV have been reshuffled, and so they now obtain a number of new variants, with some extra options too. Let’s first check out the revised model-wise variant lineup:
MG Comet New Variant Lineup
Old Variant Names
Pace
Play
Plush
New Variant Names
Executive
Excite (with Fast Charger possibility)
Exclusive (with Fast Charger possibility)
With the variant rejig, MG has additionally renamed the variants of the Comet EV, which at the moment are just like that of the ZS EV. It’s additionally the primary time that MG’s entry-level EV will get a 7.4 kW AC quick charging possibility with mid- and top-spec variants: Excite and Exclusive.
Revised Prices Of MG Comet EV
Variant
Old Price
New Price
Difference
Executive
Rs 6.99 lakh
Rs 6.99 lakh
–
Excite
Rs 7.88 lakh
Rs 7.88 lakh
–
Excite Fast Charger (new)
–
Rs 8.24 lakh
–
Exclusive
Rs 8.58 lakh
Rs 8.78 lakh
+Rs 20,000
Exclusive Fast Charger (new)
–
Rs 9.14 lakh
–
With the variant title revision, the value of the Comet EV’s top-spec variant has gone up by Rs 20,000, whereas the costs of the opposite variants have remained the identical.
New Features On Board The Comet EV’s New Variants
Besides the newly launched AC fast-charging succesful variants of the Comet EV, the micro-MG additionally will get extra security options comparable to an digital parking brake, digital stability management (ESC), rear disc brakes, and hill-hold help. Other consolation and comfort options on board embody power-foldable ORVMs, LED DRLs with built-in indicators, and body-coloured ORVMs.
The solely change for the ZS EV is the renamed variants. Apart from that, the electrical SUV’s costs stay the identical, starting from Rs 18.98 lakh to Rs 24.98 lakh. The higher-spec ZS EV variants can be had in a dual-tone paint possibility for a premium of Rs 10,000.
Features Available On The ZS EV Excite Pro
MG has outfitted the Excite Pro variant of the ZS EV with a panoramic sunroof, a ten.1-inch touchscreen with wi-fi smartphone connectivity, a 7-inch digital driver show, push-button begin/cease, and cruise management. In phrases of security tech, the ZS EV Excite Pro comes with six airbags, a reversing digital camera, digital parking brake with auto maintain, and a tyre stress monitoring system (TPMS).
The MG Comet EV is an inexpensive various to the Tata Tiago EV and Citroen eC3. The MG ZS EV electrical SUV rivals the Hyundai Kona Electric, BYD Atto 3, and the upcoming Maruti eVX. It can be thought of a costlier various to the Tata Nexon EV and Mahindra XUV400 EV, which sit a section beneath.
The Tiago EV has turn into extra reasonably priced by as much as Rs 70,000, the place because the Comet EV acquired a worth reduce of as much as Rs 1.4 lakh
The two most reasonably priced electrical vehicles in India, the Tata Tiago EV and MG Comet EV, have lately undergone vital worth reductions. Tata has said that it has handed on the advantages of diminished battery pack prices to clients, whereas MG goals to extend gross sales quantity by adjusting its costs to be much more aggressive. Following these revised costs, every mannequin has made switching to EVs extra tempting than ever, however which ones is the extra value-for-money possibility immediately? Let’s evaluate the brand new costs of the Tiago EV and Comet EV to see how they stack up towards one another.
Before that, let’s additionally take a look on the battery pack specs of each EVs:
Specifications
Tata Tiago EV
MG Comet EV
Battery Pack
19.2 kWh (Medium Range)
24 kWh (Long Range)
17.3 kWh
Power
61 PS
75 PS
42 PS
Torque
110 Nm
114 Nm
110 Nm
Claimed Range
250 km
315 km
230 km
The Tata Tiago EV comes with two battery pack choices, whereas the Comet EV solely comes with a single battery pack alternative.
Even the medium vary model of the Tiago EV has a bigger 19.2 kWh battery pack than the MG Comet EV, which presents extra efficiency and vary.
The medium-range model of the Tiago EV and the MG Comet EV have practically an identical charging occasions when utilizing a 3.3 kW AC charger. However, in contrast to the MG Comet EV, the Tiago EV additionally helps 50 kW DC quick charging, which may rejuvenate its battery from 10 to 80 p.c in simply 58 minutes.
The lengthy vary model of the Tiago EV will also be had with a 7.2 kW AC charger for diminished charging time.
Price Table
Tata Tiago EV
MG Comet EV
Pace – Rs 6.99 lakh
XE Medium Range – Rs 7.99 lakh
Play – Rs 7.88 lakh
XT Medium Range – Rs 8.99 lakh
Plush – Rs 8.58 lakh
XT Long Range – Rs 9.99 lakh
All costs are ex-showroom Delhi
The base-spec variant of the MG Comet EV is Rs 1 lakh cheaper than the base-spec medium-range XE variant of the Tata Tiago EV. Meanwhile, the highest finish variant of two-door micro EV is extra reasonably priced than the top-spec Long Range variant of the electrical hatchback by round Rs 3 lakh
However, there’s a worth proximity (inside Rs 50,000 of one another) for the Tiago EV medium vary variants and the mid-spec and top-spec Comet EV variants, the place the latter remains to be extra reasonably priced.
Tata’s entry-level EV possibility is priced Rs 11,000 increased than the mid-spec Comet EV. Even the top-spec Plush variant of the MG Comet EV undercuts the Tiago EV XT medium vary variant by Rs 41,000.
The mid-spec Comet EV Play variant comes outfitted with options akin to twin 10.25-inch screens (one for the infotainment and the opposite for the motive force’s show), a 2-speaker sound system, and electrically adjustable ORVMs, all of that are absent within the base-spec XE variant of the Tiago EV.
However, the mid-spec XT medium vary Tiago EV comes with options like a 7-inch touchscreen, a 4-speaker sound system, and electrically adjustable ORVMs. But, the infotainment system of the Tiago EV helps wired Android Auto and Apple AutomotivePlay, in contrast to within the Comet EV which has wi-fi help for a similar.
The Tiago EV comes with computerized AC from its base-spec variant, which isn’t being supplied with MG Comet EV.
MG Comet EV’s top-spec trim comes with facilities like sensible begin system (no button, simply press the accelerator pedal with the important thing within the automobile to start out it), reverse parking digital camera, and tilt adjustable steering wheel.
In phrases of security, each EVs get twin entrance airbags, ABS with EBD, tyre stress monitoring system, and rear parking sensors. The mid-spec XT variant of the Tiago EV doesn’ get a rear parking digital camera.
The entry-level lengthy vary variant of the Tata Tiago EV prices Rs 1.41 lakh greater than the top-spec Plush variant of the Comet EV.
Conclusion
While it’s clear that the MG Comet EV packs extra options at decrease costs than the Tata Tiago EV, there’s additionally the clear drawback of cabin measurement and vary. With a claimed vary of lower than 300 km for each, they’re each positioned primarily for use in metropolis driving, however every of those entry-level EV choices has a special strategy to it.
If you are looking for a novel EV expertise with a give attention to options and the choice to cost in a single day, the MG Comet EV presents a extra value-for-money possibility. However, in the event you prioritize prolonged vary, energy, and extra space, chances are you’ll think about the Tiago EV, albeit at a premium. If you’re on the lookout for an entry-level EV that permits you to think about journeys longer than metropolis commuting and presents the comfort of quicker charging, the longer vary variants of the Tiago EV are those to funds for.
So which one will you select between Tiago EV and Comet EV and why? Feel free to share your opinions within the feedback under.
This 12 months’s checklist consists of nearly each class of automobile, from the likes of the MG Comet EV to the BMW M2
It’s been fairly a 12 months within the India automotive area with a formidable set of recent automobiles that entered the market throughout varied segments, together with EVs. That additionally means it’s time for the trade consultants to determine one of the best of the bunch as a part of the annual Indian Car Of The Year (ICOTY) awards. Let’s take a look at the ultimate nominees for every of the three classes of the ICOTY 2024:
The model with essentially the most variety of nominated fashions this 12 months is BMW, with a complete of 4 entrants, together with its flagship EV, the i7. Meanwhile, the checklist of predominant ICOTY candidates continues to be dominated by SUVs, whereas the others embrace 1 sedan, 1 hybrid MPV, and a compact 2-door EV.
In order to determine the winners of the ICOTY 2024 awards, there’s a jury of consultants comprising almost 20 members from varied automotive publications, together with CarDekho’s personal Ameya Dandekar, that might be assessing the entire automobiles talked about above. Stay tuned to seek out out which of them come out on high for every class.
Apart from the Comet EV, all other models are readily available in at least a couple of cities
MG Motors has been operating in India for a while, debuting its first offering in 2018, and now has six models on sale including India’s most affordable electric car, the MG Comet EV. With its variety of SUVs, MG keeps its place in the top 10 highest-selling brands every month, but with high demand also comes high waiting periods. You can check out the waiting periods of all MG models in these 20 major cities here:
Cities
Waiting Period
Hector
Hector Plus
Astor
Gloster
ZS EV
Comet EV
New Delhi
2 months
2 months
1 month
3 months
1 month
2 – 3 months
Bengaluru
2 – 3 months
2 – 3 months
No Waiting
No Waiting
No Waiting
2 months
Mumbai
No Waiting
No Waiting
No Waiting
No Waiting
No Waiting
2 – 3 months
Hyderabad
1 month
1 month
No Waiting
3 months
No Waiting
1.5 months
Pune
No Waiting
No Waiting
No Waiting
No Waiting
No Waiting
1 – 2 months
Chennai
1 – 2 months
1 – 2 months
1 – 2 months
3 – 4 months
2 months
3 months
Jaipur
1 month
1 month
2 months
2 months
2 months
3 – 4 months
Ahmedabad
1 month
1 month
1 month
3 months
1 month
2 months
Gurugram
2 – 3 months
2 – 3 months
2 – 3 months
4 months
3 months
2 – 3 months
Lucknow
1 month
1 month
1 – 2 months
2 – 3 months
2 months
2 months
Kolkata
No Waiting
No Waiting
No Waiting
1 – 2 months
No Waiting
1.5 months
Thane
1 month
1 month
1 – 2 months
2 – 3 months
1 – 2 months
2 – 2.5 months
Surat
2 – 3 months
2 – 3 months
1 month
2 months
1 month
1 – 1.5 months
Ghaziabad
0.5 month
0.5 month
0.5 month
No Waiting
0.5 month
1.5 months
Chandigarh
1 – 2 months
1 – 2 months
2 – 3 months
3 – 4 months
3 – 4 months
1.5 – 2 months
Coimbatore
2 – 3 months
2 – 3 months
No Waiting
6 months
No waiting
2 months
Patna
1 month
1 month
1 month
3 – 4 months
NA
1.5 – 2 months
Faridabad
2 months
2 months
2 months
3 months
2 – 3 months
2 months
Indore
1 month
1 month
1 month
1 month
1 month
1 – 2 months
Noida
0.5 month
0.5 month
0.5 month
No Waiting
0.5 month
1.5 – 2 months
Key Takeaways
MG Hector and Hector Plus share the same waiting periods with the highest wait time going up to three months in Bengaluru, Gurugram and Coimbatore.
The average waiting period for both five- and seven-seater models is two months but in Mumbai, Pune and Kolkata, both SUVs are readily available.
MG Astor’s average waiting time is also two months with the highest going up to three months in Gurugram and Chandigarh. Buyers in Bengaluru, Mumbai, Hyderabad, Pune, Kolkata and Coimbatore can pretty much drive off the lot with a new one.
MG Gloster has the highest waiting period here which goes up to six months in Coimbatore. Its average wait time is of three months and can be brought home without any wait in Bengaluru, Mumbai, Pune, Ghaziabad and Noida.
The highest waiting period for the MG ZS EV is four months in Chandigarh, but in most cities, it can be had in two months. It is readily available in Bengaluru, Mumbai, Hyderabad, Pune, Kolkata and Coimbatore.
Lastly, the latest offering, the MG Comet EV, has its highest waiting period of four months in Jaipur. In most other cities it can be had in two months and has its lowest wait time of one to one and a half months in Surat.
Note: The waiting period may differ based on the variant and colour option chosen. To get more details, we recommend that you contact your nearest MG dealership.
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HomeNew CarsNewsThis Is How Far The MG Comet EV Can Go In A Single Charge
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But earlier than entering into the main points of the take a look at, let’s see what the Comet EV presents.
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Battery Pack & Performance
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Specifications
Battery Pack
17.3kWh
Power
42PS
Torque
110Nm
Drivetrain
Rear-wheel drive
Claimed Range
230km
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Since the Comet EV is a automotive meant for metropolis commutes, it will get a small 17.3kWh battery with a rear-mounted electrical motor. It claims a daring 230km, lower than even the entry-level Tata Tiago EV, however let’s dive into the vary it delivered in real-world driving situations.
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Real-world Range
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In our thorough vary take a look at, we took the Comet EV out and saved driving until the battery went from 100 to 0 %. In maintaining with the aim of the Comet EV, we determined to not get on the freeway and carried out our take a look at inside town. During our take a look at, the AC was set at 24 levels, and the fan pace was set at 2.
With all these parameters set and after driving the complete day within the metropolis, the Comet EV delivered a spread of 182km, which is about 50km lower than its claimed driving vary. Nonetheless, for a metropolis commuter, a spread of over 180km must be sufficient to get you thru the week between recharge classes. That’s useful on condition that the MG Comet doesn’t assist quick charging and a 3.3kWh charger will take 7 hours for a top-up.
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What Happens As The Battery Level Drops?
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During our exams, we observed a few essential particulars in regards to the Comet EV because the battery ranges had been nearly depleted. When the cost reaches 26 %, there’s a decline within the throttle response. There is one other drop at 10 % battery and it reduces even additional at 5 %.
But in contrast to another EVs, the Comet’s pace cap is far more cheap. Even at 2 % cost left, the Comet EV can journey at as much as 30kmph, which is enough for metropolis visitors. Also, the AC doesn’t change off until the automotive drains out however you’ve the choice of auto change off.
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Final Thoughts
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Overall, the Comet EV does supply a stress-free metropolis driving expertise with sufficient vary to your each day commutes. MG has priced it between Rs 7.98 lakh and Rs 9.98 lakh (introductory, ex-showroom) and it’s a rival to the Tata Tiago EV and the Citroen eC3. It might lack dimension and practicality in comparison with typical hatchbacks, but it surely makes up for it by providing premium tech options and a stand-out design.
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Offers”,”apiOptions”:{“secondaryCTA”:false,”mlCTA”:false,”isLdCta”:false,”isServiceCenterLead”:false,”isAckoLead”:false},”dcCtaText”:”REQUEST A CALLBACK”,”withDCCall”:false,”isDealerConnect”:false,”subTitle”:”We solely ask these as soon as and your particulars are secure with us.”,”leadTypeCode”:70,”isOCBFlow”:false,”mannequinImage”:”https://stimg.cardekho.com/images/carexteriorimages/930×620/MG/Comet-EV/9391/1682077644177/front-left-side-47.jpg”,”emailIdRequired”:”0″,”generateORPLead”:0}}],”whatsappDTo”:{“url”:”https://api.whatsapp.com/send?phone=911416666666&text=”,”message”:”Please ship the information this-is-how-far-the-mg-comet-ev-can-go-in-a-single-charge-31157 on my WhatsApp.”,”header”:”Get Latest Offers and Updates in your WhatsApp”,”label”:”Get this on”,”extraLabel”:”WhatsApp”},”commentCount”:0,”presentNewCommentWidget”:1,”showAppDownloadSticky”:false,”upVote”:0,”downVote”:0,”schema”:[{“datePublished”:”2023-07-20G08:01:05 +0530″,”image”:{“@type”:”ImageObject”,”Height”:”420″,”Width”:”696″,”url”:”https://stimg2.cardekho.com/images/carNewsimages/userimages/650X420/31156/1689820264794/ElectricCar.jpg”},”articleBody”:”We completely drained the MG Comet EV and found its real-world driving range The Comet EV offers a claimed range of 230km. It comes with a 17.3kWh battery pack with a rear-mounted electric motor. Prices range from Rs 7.98 lakh to Rs 9.98 lakh (introductory, ex-showroom). MG Comet EV entered the Indian market earlier this year and bested the Tata Tiago EV to become the country’s most affordable electric car with introductory prices starting from Rs 7.98 lakh (ex-showroom). MG claims a range of 230km for this micro EV, so we decided to put the Comet through our rigorous test and figure out its real-world driving range. A post shared by CarDekho India (@cardekhoindia) But before getting into the details of the test, let’s see what the Comet EV offers. Battery Pack & Performance Specifications Battery Pack 17.3kWh Power 42PS Torque 110Nm Drivetrain Rear-wheel drive Claimed Range 230km Since the Comet EV is a car meant for city commutes, it gets a small 17.3kWh battery with a rear-mounted electric motor. It claims a bold 230km, less than even the entry-level Tata Tiago EV, but let’s dive into the range it delivered in real-world driving conditions. Real-world Range In our thorough range test, we took the Comet EV out and kept driving till the battery went from 100 to 0 percent. In keeping with the purpose of the Comet EV, we decided not to get on the highway and carried out our test inside the city. During our test, the AC was set at 24 degrees, and the fan speed was set at 2. Also See: Tata Punch EV’s New Interior Seen On Camera For The First Time With all these parameters set and after driving the entire day in the city, the Comet EV delivered a range of 182km, which is about 50km less than its claimed driving range. Nonetheless, for a city commuter, a range of over 180km should be enough to get you through the week between recharge sessions. That’s handy given that the MG Comet does not support fast charging and a 3.3kWh charger will take 7 hours for a top-up. What Happens As The Battery Level Drops? During our tests, we noticed a couple of important details about the Comet EV as the battery levels were almost depleted. When the charge reaches 26 percent, there is a decline in the throttle response. There is another drop at 10 percent battery and it reduces even further at 5 percent. Also Read: Elon Musk Confirms Tesla India Debut After Meeting Prime Minister Narendra Modi But unlike some other EVs, the Comet’s speed cap is much more reasonable. Even at 2 percent charge left, the Comet EV can travel at up to 30kmph, which is sufficient for city traffic. Also, the AC doesn’t switch off till the car drains out but you have the option of auto switch off. Final Thoughts Overall, the Comet EV does offer a stress-free city driving experience with enough range for your daily commutes. MG has priced it between Rs 7.98 lakh and Rs 9.98 lakh (introductory, ex-showroom) and it is a rival to the Tata Tiago EV and the Citroen eC3. It may lack size and practicality compared to conventional hatchbacks, but it makes up for it by offering premium tech features and a stand-out design.Read More on : Comet EV Automatic”,”@type”:”NewsArticle”,”author”:{“@type”:”Person”,”name”:”Ansh”,”url”:”https://www.cardekho.com/authors/ansh-kapoor-107.html”},”publisher”:{“@type”:”Organization”,”name”:”CarDekho”,”logo”:{“@type”:”ImageObject”,”Height”:”21″,”Width”:”221″,”url”:”https://img.gaadicdn.com/pwa/img/logo/CD-108×19.png”}},”description”:”We completely drained the MG Comet EV and found its real-world driving range The Comet EV offers a claimed range of 230km. It comes with a 17.3kWh battery pack with a rear-mounted electric motor. Prices range from Rs 7.98 lakh to Rs 9.98 lakh (introductory, ex-showroom). MG Comet EV ente”,”dateModified”:”2023-07-20G08:01:05 +0530″,”mainEntityOfPage”:{“@type”:”WebPage”,”@id”:”/india-car-news/this-is-how-far-the-mg-comet-ev-can-go-in-a-single-charge-31157.htm#”},”@context”:”https://schema.org”,”headline”:”This Is How Far The MG Comet EV Can Go In A Single Charge”},{“itemListElement”:[{“Item”:”https://www.cardekho.com/”,”@type”:”ListItem”,”name”:”Home”,”position”:”1″},{“Item”:”https://www.cardekho.com/newcars”,”@type”:”ListItem”,”name”:”New Cars”,”position”:”2″},{“Item”:”https://www.cardekho.com/india-car-news.htm”,”@type”:”ListItem”,”name”:”News”,”position”:”3″}],”@sort”:”BreadcrumbList”,”@context”:”https://schema.org”}],”printedOnWithAuthorString”:”Published On Jul 20, 2023 08:01 AM By
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Currently, the maker of the Hector and Comet EV is wholly owned by Shanghai-based SAIC Motors
MG had previously announced its plans to sell its majority stake to Indian investors with the aim of localizing the company.
Companies such as Mahindra, Hinduja, Reliance, and Jindal Steel have reportedly expressed interest in acquiring MG Motor India.
Any of these companies could potentially acquire a majority stake, resulting in MG becoming an India-owned company.
Due to the ongoing tensions between India and China, MG faced sanctions on fundraising activities.
MG has also announced its plans to introduce 4-5 new cars in India within the next five years.
MG recently revealed its plans to gradually transfer ownership to Indian stakeholders over the next two to four years. As a result, several Indian companies have shown interest in acquiring the carmaker, which intends to launch 4-5 new cars in the next five years. Currently, MG Motor India is wholly owned by SAIC Motor, a Shanghai-based company.
Who Could Become The New Majority Owner Of MG Motor India?
Carmakers like Mahindra and Mahindra, Hinduja (promoter of Ashok Leyland), Reliance, and JSW Group are reportedly interested in acquiring a majority stake in MG Motor India. Reports suggest that any of these companies could acquire a 45-48% stake in the company, with additional percentage going to dealers and Indian employees.
How Will It Change Things For MG?
With the infusion of Indian equity over the next few years, SAIC will become a minority stakeholder, holding around 49% or less. This would transform MG Motor India into a genuinely Indian company, removing its association as a ‘Chinese brand’.
Due to ongoing tensions between India and China, MG Motor India was unable to raise funds from its parent company, SAIC. Sanctions on these fundraising activities have also hindered the carmaker’s expansion plans. However, this move will allow MG to attract investments from Indian companies and facilitate brand growth while meeting the demand.
Currently, MG has five models in its lineup – Comet EV, Astor, Hector, ZS EV, and Gloster. If and when this move gets confirmed, we can expect many new models being launched in the country, perhaps more than just the planned 4-5 over the next five years.
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