Since the start of 2024, the ZS EV has been steadily increasing its sales volumes and surpassed the Nexon EV for the first time in June.
Aiming to sell one million new-energy vehicles in India by the end of the decade, MG Motor India reported that electric vehicles made up a third of its total sales in the first half of 2024.
In this period, the company sold 3,957 units of the ZS EV, with its sales nearly doubling from the first to the second quarter. In June, the ZS EV’s monthly retail sales surpassed those of the Tata Nexon EV for the first time, reaching 969 units. MG Motor’s electric vehicle sales in June saw an approximate 21% year-over-year increase, contrasting with a 20% decline in Tata Motors’ electric vehicle sales.
Electric vehicles, including the ZE and Comet models, made up 33% of MG Motor India’s total sales during the first six months of the year, with this figure rising to 40% in June. Chief Commercial Officer Satinder Bajwa stated that electric vehicles hold significant potential to foster a sustainable and favourable future for India, potentially becoming the predominant type of car used across the country.
Since its entry into the Indian market in 2019, MG Motor has offered five models, including two electric vehicles—the ZS and Comet—and three internal combustion engine models: the Astor, Hector, and Gloster. The early introduction of the ZS EV positioned MG Motor as one of the pioneers in the electric vehicle segment, securing a substantial market share in this category, while its overall passenger vehicle market share remains between 1-2%.
Now operating as JSW MG Motor India, a joint venture between JSW Group and SAIC-owned MG Motor, the company has set a goal to sell one million new energy vehicles (EVs and PHEVs) by 2030.
MG Motor India plans to launch two new electric vehicles built on the E260 EV platform, which will include a five-door SUV and a compact MPV. These models are expected to be priced under Rs 15 lakh, positioning them to compete with Tata Tigor X-Pres T EV and BYD’s E6 MPV.
Additionally, MG Motor India is expanding its presence in tier 3 and tier 4 cities and rural areas, with plans to establish 100 new touchpoints by year-end, aiming for a total of 520 touchpoints in 270 cities by March 2025.
