MG Motor is planning to increase capacity from 1.2 lakh to 1.4-1.5 lakh units this year through a debottlenecking exercise, which will fulfil its requirements for the next few years, says Rajeev Chaba, President of MG Motors India.
“The discussion on Phase Two 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 on the sidelines of unveiling of its global range of EVs and hybrids at the AutoExpo 2023.
The plan is a slight deviation from an earlier plan of adding an all-new facility within a couple of years, for which the company has been actively scouting for greenfield as well as acquisition opportunities.
“We continue to believe in the strong growth potential of the Indian market and we are working towards the government’s vision of making locally, doing local value addition and democratising future technologies with focus on local skill development,” he added.
