MG Motor to Increase Prices of its Electric Vehicles from January

MG Motor, which has a major share in the electric vehicles (EV) market, has announced to increase the prices of its vehicles from next month. These will also include the company’s Electric Vehicles (EV). MG Motor’s EV portfolio includes the Comet EV, Windsor EV and the ZS EV.

The company has said in a statement that due to increase in input costs and other reasons, it has become necessary to increase the prices of vehicles. However, along with this, MG Motor says that efforts will be made to minimize the impact of price increase on customers. Apart from EVs, it has also planned to increase the prices of SUVs like Astor, Hector and Gloster. The price increase will be up to three percent depending on the model. The company’s sales have increased by about 20 percent last month. The share of EV in this was more than 70 percent.

MG Motor’s Comet EV is the lowest priced electric car in the country. The company’s Windsor was the best-selling EV in November. MG Motor’s total sales last month stood at 6,019 units. MG Motor’s sales of electric vehicles in November stood at 5,092 units. Tata Motors holds the first position in this segment. MG Motor sold 3,116 units of Windsor EV in October. The company started delivery of this electric crossover to customers on Dussehra. Its prices are approximately between Rs 13.50 lakh to Rs 15.50 lakh (ex-showroom).

This is the first EV for which the option of Battery as a Service has been given. In this, the starting price of Windsor EV will reduce to around Rs 10 lakh. However, with this, additional battery rental of Rs 3.5 per kilometer will have to be paid. MG Motor received more than 15,000 bookings within 24 hours of its booking opening. This crossover utility vehicle offers the comfort of a sedan and space like an SUV. Windsor EV has been made available in three variants – Excite, Exclusive and Essence. It competes with Mahindra XUV400 and Tata Motors’ Nexon EV. EV sales have increased rapidly in the last few years. Many automobile companies are presenting their models in this segment.