MG Motor Aims To Lead the Indian Market With NEVs In the next three years its portfolio will be 70 per cent new energy vehicles (NEVs)

MG Motor is yet again having a Hector moment in India, with Windsor leading India's EV market. The company sold around 3,116 units of Windsor in October 2024 and it became the top selling EV car in India and the momentum still continued in November. "We are maintaining a steady state of booking for Windsor currently and we want to take it further and keep building on the volume stream for next year. It's become like the Hector moment for us. When Hector was launched in 2019, it created a wave in the segment, disrupted the industry, and made a lot of people go back to the drawing board in terms of their product offerings and their packages. I think Windsor has done the same in the industry. In November, the sales momentum is still growing for Windsor and the waiting period is about four to five months," said Gaurav Gupta, chief growth officer at JSW MG Motor India.

The company is targeting almost 70 per cent of its portfolio to be new energy vehicles. "Almost 60 to 70 percent of our portfolio in the next three years will be new energy vehicles and in doing so we would aim to be the leader in the new energy vehicle space," said Gupta.

Recently, JSW MG Motor India announced to enter the 'accessible luxury' segment with the launch of a new brand identity, MG Select, in India. MG Select envisions to reshape accessible luxury over the next two to three years by creating a distinct, experience-driven identity. The luxury industry in India is at about one per cent, however, the disposable income is on the rise. In 2023, India's luxury car market reached a value of $1.14 billion, and sales of luxury cars reached an all-time high of 42,700 units. Based on price range, the India luxury car is bifurcated into INR. 20-50 lakh and INR 50-80 lakh. The INR 20-50 lakh segment dominates the Indian luxury car market, owing to its affordability, offering a more accessible entry point for a broader range of consumers.

"The whole approach of MG select is to really expand and serve this rising Indian volume wherein people want to go for premiumization. There has been no disruption in the one percent category in the last few years and our products will cater to this change," he added.

With MG Select, the company aims to elevate every aspect of the car-buying journey with modern, immersive showrooms and curated offerings. By focusing on innovation and customer-centric design, it seeks to redefine luxury, ensuring it feels premium yet approachable. "Our strategy revolves around catering to upwardly mobile, new-age consumers who value refined experiences without the exclusivity of ultra-luxury brands. MG Select's unique positioning bridges the gap between aspiration and accessibility. This balance allows us to expand the market, creating a space where luxury is evolving consumer expectations," he explained.

The growth of accessible luxury in Tier II and III cities in India is fueled by increasing disposable incomes, digital penetration, and a shift in consumer preferences toward experiential and premium offerings. A recent report highlights that 50 per cent of India's online shoppers come from these smaller cities, underscoring their growing economic significance. Infrastructure improvements, such as regional air connectivity under the UDAN scheme, and rising brand awareness further contribute to this trend.

"This ensures that customers in Tier II and III cities experience the same exclusivity and connection that define accessible luxury globally. In terms of Tier II and III cities we will be launching in 12 places to begin with."

The new MG Select outlets, launching in 12 major cities by first quarter next year, will offer both sales and service facilities, delivering a cohesive experience blending sophistication with value for money. By integrating personalized customer care and cutting-edge service capabilities, the brand aims to set a new benchmark in after-sales excellence.

While ICE vehicles will remain part of MG Select to cater to diverse consumer preferences, the focus will lean toward New Energy Vehicles (NEVs). This includes exploring electric vehicles (EVs), hybrids, and plug-in hybrids to meet the growing demand for sustainable, tech-forward mobility solutions. Rather than prescribing a strict split between ICE and NEVs, the new brand would prioritize delivering experiences that harmonize luxury, innovation, and environmental responsibility. "By embedding sustainability as a core value, we aim to redefine what accessible luxury means in the automotive sector. Through personalized services and advanced technology, MG Select is poised to engage its audience that values quality and eco-consciousness. This strategic balance ensures we meet contemporary demands while setting a benchmark for the future of mobility."

A report by Bain & Company indicates that India's electric vehicle (EV) market could grow from 5 per cent penetration today to over 40 per cent by 2030, reflecting an inflection point in consumer adoption and industry transformation.

MG Select will be coming up with two cars within the first quarter of calendar year 2025 and will launch two new cars by the end of 2026. "We could have one more, we can accelerate these plans, but at least we are going here with four confirmed products and two in the first quarter. These will be of various body styles, including SUVs, Sedans, luxury vans, sports cars," Gupta added.

The brand has unveiled the name of its maiden car-- the 'MG Cyberster-- a sleek sports car. "The MG Cyberster brings that dream to life, blending the timeless allure of classic roadsters with modern technology and inspired innovation. It encapsulates the thrill and charm of a bygone era while appealing to the discerning tastes of new-age luxury customers in India," Gupta said.

The new cars under MG Select will be assembled in the factory in Vadodara with additional lines being put up. MG Motor's manufacturing plant in India is located in Halol, Gujarat near Vadodara and the company is planning a new unit in the same location. "The first two cars are going through trial build steps and they will be assembled in India. In parallel we are proceeding ahead with a second plant in Gujarat, the plan is already on."

The current capacity is around over a lakh per annum and the new plant will increase the volume to 300,000 units. "We will hit this milestone by 2027-28," Gupta concluded.