Home Car News Good News For Indian Automobile Industry: M.G. To Invest Rs. 3000 Crores...

Good News For Indian Automobile Industry: M.G. To Invest Rs. 3000 Crores For Future Projects

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On of the most fresh and young company to enter Indian Market, yes we are talking about MG (Morris & Garages).

MG is a British automotive marque also known as M.G. Car Company Limited is one of the most popular British sports car manufacturer and well known for it’s sports utility vehicle.

Best known for its ‘midget’ open two-seater sports cars, MG also produces coupe and Mid sized SUV’s. The company is also engage

d in production of mid sized engines with capacity upto three litres in size.  The company is now owned by Chinese automotive giant SAIC Motor Corporation Limited.

Taking a look at the history of the of the company , MG roots dated back in 1920s sales promotion side-line of Morris Garages, which was at that time a retail sales and service centre in Oxford belonging to William Morris.

A separate M.G. Car Company Limited was incorporated in July 1930. The company until 1 July 1935 remained as Morris’s personal property, when he sold it to his holding company, Morris Motors Limited.

Now coming to the latest news, we got from our sources regarding the company, Morris Garages, now owned by SAIC of China is on the verge of investing a huge amount of Rs. 3000 crores and more in the country for the Indian Automobile sector, a company official said in the latest interview.

With the youngest member to enter in this sector, MG Motor India has already spent ₹ 2,000 crore in the country and commenced manufacturing operations at its plant at Halol in Gujarat, according to the confirmed sources.

MG Motor India chief commercial officer Gaurav Gupta told PTI that, “We are committed to India and have started our journey in July this year. We have a long-term plan for the country and will make a further investment of ₹ 3,000 crore”.

According to the statists provided by the carmaker, the company so far sold nearly 13,000 units of its internet SUV, MG Hector, and the response from the customers were are very good.

For future perspective the company will launch an electric internet sport utility vehicle and will have a total of four models by July 2021, all in the SUV segment.

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