AgenciesNew Delhi: MG Motor India, a subsidiary of Chinese automaker SAIC Motors, plans to invest Rs 1,000 crore in the country in the next one year to boost capacity at its Gujarat facility and increase localisation levels in its products.
“We will invest an additional Rs 1,000 crore between now and September 2021. Some of this will be used to increase capacity at our existing facility in Halol (Gujarat),” said company president Rajeev Chaba. “The remaining resources will be utilised to value-add to our operations in India through localisation of high-end components, tooling at our vendors, electric vehicle battery localisation and the launch of SUV Gloster.”
Motor India has already invested Rs 3,000 crore in the country. The Gujarat unit’s annual production capacity is 75,000-80,000 vehicles, which will now be increased to 100,000. Due-diligence is on for setting up a second manufacturing unit in the country, said Chaba, who is also the managing director.
“We will invest an additional Rs 1,000 crore between now and September 2021. Some of this will be used to increase capacity at our existing facility in Halol (Gujarat),” said company president Rajeev Chaba. “The remaining resources will be utilised to value-add to our operations in India through localisation of high-end components, tooling at our vendors, electric vehicle battery localisation and the launch of SUV Gloster.”
Motor India has already invested Rs 3,000 crore in the country. The Gujarat unit’s annual production capacity is 75,000-80,000 vehicles, which will now be increased to 100,000. Due-diligence is on for setting up a second manufacturing unit in the country, said Chaba, who is also the managing director.