MG Motors is planning a big five-year plan in India

MG Motors, a UK-based auto company, is planning a big five-year plan in India. To encourage production and through this means achieve various objectives by 2028 is the plan as of now. MG Motors is doing well in India. It does have its manufacturing factory in Gujrat. But to expand the business, it will open another manufacturing factory in Gujrat only. This will increase local production, create local employment and make a local impression. It will also put its stake in an IPO by 2028.

The company is going to invest at least 5000 Crore rupees and will provide employment to nearly 20,000 people in next 4-5 years. By establishing another factory, it will increase its production by up to 3 lakh vehicles. It will launch 4-5 new models which will prominently be electric vehicles and achieve more than half of their sales by EV. EV’s components will also be manufactured in India as MG Motors is about to set up a battery assembly unit in Gujrat.

This 5-year plan also includes the element of clean energy. They are going to focus on carbon emissions and thus exploring hydrogen fuel cell technology to emit less carbon. The company wants to achieve an Indian shareholding so that makes India a big hub for MG Motors.

This 5-year plan will benefit India in various ways, like sustainable growth and India’s steps towards clean energy.