We already reported on MG Motors (Morris Garages) raising funds for electric vehicle future in India. Now, a new report has revealed that the company is planning on launching a relatively affordable EV model in the country.

According to a CarToq report, the British brand, which is a subsidiary of SAIC Motor a China based automobile maker, will be targeting the urban population in India with this model. This will be a low cost electric four wheeler. Notably, the news arrives soon after the company launched the new refreshed version of the MG ZS EV. But it seems that the cost of its EVs will be even lower in the near future. The report adds that the brand is planning on releasing a new EV that is tailor made for Indian buyers.

This model will be placed within an affordable price range of around 10 lakh INR (roughly 13,140 US Dollars) and will be based on the SAIC-GM-Wuling Global Small Electric Vehicle (GSEV) platform. In other words, MG Motors is clearly placing a focus on the Indian automobile market’s EV segment. It has clearly realized that the industry is price sensitive. So, it won’t be a surprise that the company is actually planning on introducing a budget EV models in the near future. Apart from the Indian market, MG Motors will also be looking at other surrounding markets as well.

Furthermore, the report adds that the EVs are compact two door cars that have short length and tight turning circles, which are great for urban environments. As previously mentioned, the affordable EV will be based on the SAIC-GM-Wuling Global Small Electric Vehicle platform, which includes the likes of Baojun E100, E200, E300, and E300 Plus, as well as the Wuling Hongguang Mini EV. The upcoming MG EV will likely be based on the Hongguang Mini EV, although, with changes that suit the Indian market. Some changes may include a longer wheelbase and a possible five door design since three doors have historically been unsuccessful in the country.

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With petrol and diesel prices touching new all-time highs, the Indian automobile market is witnessing a paradigm shift. More and more automakers are hopping onto the all-electric bandwagon and EV sales have risen significantly as well.

A good indication of this is a recent report from JMK Research (via 91mobiles) that shows that the Indian electric vehicle market registered a massive 240% year-on-year growth in December 2021 in terms of sales.

A total of over 50,800 electric vehicles were purchased during December 2021, according to the report, which is 21% higher than the 42,055 figure from November of the same year. The gap gets even wider when December 2020 is brought into the picture, with only 14,978 new EVs registered across the country during the month.

The main contributors to the impressive growth figures were two-wheeler EVs and three-wheeler EVs, which together accounted for 90.3% of EV sales in December 2021. Both categories had a near equal share, with 48.6% of sales coming in from the electric two-wheelers camp and 41.7% from electric passenger three-wheelers. Electric cars and cargo vehicles, meanwhile, clocked in shares of 5 percent and 4.3 percent share, respectively.

Okinawa, Hero Electric, Ampere Vehicles, Ather Energy, Pure EV, TVS Motors, Benling India, Revolt, Bajaj, and Jitendra New EV Tech were the top 10 companies in the high-speed electric two-wheeler (HS-E2W) space, accounting for 94% of the total registrations recorded in the month of December 2021. This particular market clocked in sales of 24,725 units in December 2021, which is a 10% MoM and 444% YoY jump.

The scene is a lot different in the electric cars segment though, where Tata Motors stood unrivaled, accounting for 93% of the total of 2,522 units sold in December 2021. It is seconded by MG Motors.

Moving on to state-wise distribution, UP led the chart with a share of 23% from the total number of EVs sold last year. It is joined by Maharashtra and Karnataka on the podium, with 13% and 9% shares respectively. The 4th and 5th ranks are held by Rajasthan with 8% and Delhi with 7% contribution.

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