MG Motor India, a subsidiary of the SAIC Motors Corporation, is planning to make an investment of additional Rs 1,000 crore in the country in the next one year.
Some of the investment will be made to augment capacity at its Halol facility in Gujarat. The remaining resources will be utilised to value-add operations in India through localisation of high-end components, tooling at vendors, electric vehicle battery localisation and launch of SUV Gloster.
The company has already invested Rs 3,000 crore in the country. The Gujarat unit’s annual production capacity is 75,000-80,000 vehicles, which will now be increased to 1,00,000. The additional investment will be made till September 2021.
Also, duediligence is on for setting up a second manufacturing facility in the country.