Stymied by prevailing geopolitical tensions between India and China, Morris Garages (MG Motor) – owned by China’s SAIC Motor – has been on the back foot in the Indian market for the last few years. Over the last two years, the brand has only been able to launch one all-new model, the Comet EV, but with Indian conglomerate JSW recently acquiring a 35 per cent stake in the Indian arm of the company, MG is aiming to accelerate its growth in India once again. Ahead of the introduction of its third electric vehicle (EV) in our market, MG Motor India has trademarked the ‘Excelor EV’ name, which is now ‘accepted and advertised’, as per a registration document accessed by carandbike.
Also Read: JSW Group Acquires 35% Stake In MG Motor India; Enters Into JV With SAIC
On March 20, MG is set to announce its future plans for the Indian market in partnership with JSW, and will also showcase a new electric vehicle. However, carandbike understands this will not be the car that will use the Excelor name.
MG applied for the Excelor EV trademark at the end of 2023.
The Excelor name, which, like the name of nearly every MG SUV on sale in India (Astor, Hector, Gloster), ends with an ‘R’, is also likely to be used for an all-electric SUV.
In a recent interaction, MG Motor India Deputy MD Gaurav Gupta confirmed to carandbike that the company will launch two models this year, one of which will be an electric vehicle. At this point, it is unclear which two cars MG will launch in India. Overseas, the MG lineup includes battery-powered models such as the MG4 hatchback, MG5 estate and the Marvel R SUV, and parent firm SAIC’s model catalogue features an extensive range of battery electric vehicles, which could also be evaluated.
Also Read: MG Comet EV Finally Gets Fast Charging; Cheaper ZS EV With Panoramic Sunroof Launched
MG’s ZS EV is currently among the highest-selling battery-powered SUVs in India.
MG has previously confirmed the joint venture between SAIC and JSW will focus on expanding MG’s vehicle portfolio in India (with a focus on ‘green’ vehicles), enhancement of local sourcing, improvement of charging infrastructure for electric vehicles (EVs) and expansion of production capacity. As part of the strategic 5-year ‘MG 3.0’ plan, the carmaker – a wholly-owned subsidiary of China’s SAIC Motor – aims to have an Indian entity as its majority stakeholder.
MG previously revealed it will raise funds to the tune of Rs 5,000 crore, which will be utilised to set up a second plant in Gujarat to boost total production capacity to 3 lakh units annually. Under the 3.0 programme, MG will launch up to five new models by 2028, ‘most’ of which will be battery electric vehicles. The carmaker estimates electric vehicles will make up anywhere between 65 to 75 per cent of its total sales in India in the next five years.
