JSW MG Motor become first OEM in India to achieve 40% of its sales from EVs

Currently, MG has a diverse portfolio that includes models like the Hector, Gloster, ZS EV, and Comet, with the latter being one of the most popular electric vehicle (EV) names. Six months ago, MG was selling about 400 Comet cars per month. However, thanks to a successful repositioning strategy, sales have surged, and MG sold around 900 Comet cars last month. Making it the first OEM in India to power its 40% through electric cars, “our EV volume contributed almost 40% of our total monthly volume in June and a month before it was 35%,” said Satinder Bajwa is Chief Commercial Officer, JSW MG Motor India.

The company has recently repositioned its two variants; ZS EV (priced at INR 18.98 Lakh) and Comet (priced at INR 7.45 Lakh) to drive its EV growth in India.New Delhi: JSW MG Motor India has strengthened its auto game by being the first OEM in India to earn 40% of its sales from its EV portfolio. MG Motor has repositioned its EV sales through different business strategies making a 50% increase within 6 months, told Satinder Bajwa is Chief Commercial Officer, JSW MG Motor India to ETAuto.

The company has recently repositioned two of its variants, the ZS EV and the Comet, to boost its EV growth in India. The ZS EV is now priced at INR 18.98 Lakh, while the Comet is priced at INR 7.45 Lakh.

This sales performance is attributed to fluctuating sales during the first half of FY24. In January, MG sold 2,922 units, experiencing a 7.2% year-over-year (Y-o-Y) decline. However, February and March saw positive sales for the company. At the start of the financial year in April, MG again recorded a Y-o-Y sales drop of 10%. While sales in May were slightly positive, the decline resumed in June with a negative 9% growth.

Talking about the need to re-strategise the techniques for MG, Bajwa said, “I think it is very important that the product (ZS EV) has got a very strong acceptance. That's the strength of that product. Customers who are using ZS EV, they're very happy with the product. When you buy an EV, your anxiety is largely about the range. ZS EV, I think largely the product is delivering to the expectation of the customers."

To boost its EV portfolio, MG Motor is planning to launch new products in the coming years as reported by ETAuto earlier. The first new product launch is expected to be in the Q3 of FY25. “Following that, we are lining up that we should have a new product every five to six months and we will be present in the segments,” said Bajwa.

However, the company which dominates its portfolio in SUVs might enter the Sedan and Hatchback segment when it would be ‘appropriate’ for the company, said Bajwa taking about the company's entry in different segments.

MG is emphasising on its fundamentals in India through vehicle selling and it is parallel focusing on building consumer confidence. “We are not in a hurry right now because we have to only focus on building volumes. I think we are first trying to put the fundamentals in place, and then bring the right products to the Indian market and then look at scaling it up gradually,” added Bajwa.

Currently, the company has 400 touchpoints (sales, service, secondary outlets, and others) aiming to touch 600 touchpoints this year with 20% additional sales from non-urban areas.