Introduction MG Motor India had announced price hike for the best-selling MG ZS EV with effect from the 20th of October, 2024. This time though the rise will be in the range of Rs 30,000 to Rs 32,000 across the different variants, it will definitely form a talking point in the automotive circle. The competition is getting stiffer by the day in the EV space and this change portends what this would mean to the customers and stakeholders.
MG ZS EV Price Hike Price Details
These revisions have actually increased the price range of MG ZS EV from ₹18.98 lakh to ₹25.75 lakh ex-showroom. All this might be a complete shift for the interested buyers. Here are the modified variants with their price hike:
- Essence Dark Grey: ₹32,000
- 100-Year Edition & Essence Dual-Tone Iconic Ivory: both have increased by ₹31,000.
- Exclusive Plus Dark Grey: ₹30,200
- Exclusive Plus Dual-Tone Iconic Ivory: ₹30,000
MG has decided to retain its no-hike in price on entry-level Executive and Excite Pro variants, which might make it a good news for the pocket-conscious buyers.
According to Rajeev Chaba, MD at MG Motor India, “This change in price reflects the company’s commitment toward quality and innovation as the challenges of increased production costs are absorbed. The picture is quite challenging in terms of balancing the price competitiveness factor in the fastest-moving EV market.”
The Localization Plan
In order to smoothen future price increases, localisation is going to be the future strategy for MG in increasing localisation of its manufacturing process. This strategic step falls within the larger wave of intentions from manufacturers in the auto industry showing a strong tendency towards the localization of parts in pursuit of supply chain resilience against the anti-importing trend.
“There is a lot of scope to enhance localisation from 0% to 30-40%, which will help in reducing costs in the long term and stabilise pricing,” said Rajeev Chaba.
ELCTRIK Speaks
The new price of the MG ZS EV does make one ask several questions about its relevance in the market going forward. Quality, innovation, and price will be levied equally on the brand as it strives to maintain its turf in electric vehicles. The EV market has a lot to grow and, thus, MG’s ability to adapt to what the consumers demand and the value proposition that is thrown into the fray will be extremely important.
