MG Motor India has launched the all-new version of ZS EV that comes in four colors in the country with a price starting at ₹ 21.99 lakh (ex-showroom). The all-new ZS EV will be available in two variants - Excite and Exclusive, priced at ₹ 21.99 lakh and ₹ 25.88 lakh, respectively. The company said it has initiated bookings for the Exclusive variant, while bookings for the Excite trim will begin from July 2022.
The model has the largest in-segment 50.3-kWh (kilowatt-hour) battery with cutting-edge technology, proposing a 461-km certified range in a single charge. MG Motor India declares that the model has first-in-segment features like a dual-pane panoramic sunroof, over 75 connected car features, hill descent control, as well as lane change assist (LCA), and rear-drive assist features such as blind-spot detection (BSD) to enhance driver and passenger safety. The model can accelerate from 0 to 100 in just 8.5 seconds.
MG Motor India believes a fourth of its total sales will be coming from electric vehicles (EVs) by the end of FY23 as the company gears up to launch a mass-market EV priced at ₹ 10-15 lakh. In terms of percentage contribution to total sales, this will be the highest for any manufacturer in India, claims Rajeev Chaba, President, and Managing Director, MG Motor India.MG Motor India may even assemble a separate unit for its EV business in India.
MG outlined an investment of ₹ 2,000 crores for 2021-22 and FY23 and is presently weighing up different options to raise more funds as it seeks to charge its electric vehicle segment. Owned by SAIC Motor Corporation, the company may try to sell a 10-30 percent stake and is working on alternatives, including issuing new shares or diluting SAIC’s holding, and approaching the private equity funds as Reuters reported early March 2022, citing sources familiar with the objectives.
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