MG Motor India To Invest Rs 1,000 Crore To Boost Capacity At Gujarat Unit, Mulling Another Manufacturing Plant

MG Motor India is planning to invest Rs 1,000 crore in the country in the next one year period aiming at a capacity boost at its facility in Gujarat's Panchmahal district.

The company, which is a subsidiary of Chinese automaker SAIC Motors, is also looking to add more localised levels in the making of its products, The Economic Times reported.

"We will invest an additional Rs 1,000 crore between now and September 2021. Some of this will be used to increase capacity at our existing facility in Halol (Gujarat)," MG Motor India president Rajeev Chaba was quoted as saying in the report.

According to the report, the carmaker has already invested at least Rs 3,000 crore in India With the annual capacity of 75,000 to 80,000 vehicles at the Gujarat plant. The company now plans to take this figure to 1,00,000 vehicles a year.

Chaba also said, the company was mulling another manufacturing unit in the country in the coming time.