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MG Motor India in expansion drive, to invest $100 million
Autocar Professional
|15th January 2023
The investment willbe usedtoramp up existing production capacity from1.2to1.4-15lakh units per annum atthe automaker's Halol plantin Gujarat, writes Ketan Thakkar.
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Backed by improved supplies and sustained booking momentum, owned by China's largest automaker Shanghai Automotive plans to invest $100 million to expand capacity at its existing facility in Halol, Gujarat, and expand product portfolio in EVs.
The company is planning to increase capacity from 1.2 lakh to 1.4-1.5 lakh units this year through debottlenecking exercise, which will suffice its business requirements for the next few years, says Rajeev Chaba, President of MG Motor India.
"The discussion on Phase 2 expansion is still on, but it is not an urgent matter at present, with additional capacities which are likely to be released through debottlenecking and efficiency improvements. We will fund this expansion through internal accruals and loans," said Chaba.
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