MG Motor plans to invest Rs. 1,000 crore in India
The fresh investment will enable MG to launch new models and expand its operations.
MG Motor plans to invest Rs. 1,000 crore in India, which will enable the company to expand its operations and launch new models.
The carmaker will be approaching the Department for Promotion of Industry and Internal Trade (DPIIT) with their proposal to make fresh investments. As per the new FDI rules, MG, which is a sub-brand of China-based SAIC, will require clearance from DPIIT to make new investments in the country.
MG has already invested Rs. 3,000 crore in India. Its Indian product portfolio includes the Hector, Hector Plus and the ZS Electric.
The carmaker has opened bookings for the Gloster SUV, which will be launched next month. It comes with various advanced safety features including radar guided cruise control, autonomous emergency braking, automatic park assist, lane departure warning, blind spot monitoring and forward collision warning. The new model will compete with the Toyota Fortuner, Ford Endeavour and the likes.
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