New Delhi: MG Motor India, a wholly-owned arm of China’s SAIC Motor Corp., on Monday said it will increase investment to over Rs5,000 core in the next five to six years as it gears up to launch one new product each year in India from 2019.
The company, which will launch an SUV by the second quarter of next year, has already started investing Rs2,000 crore on upgrading the Halol plant in Gujarat which it had acquired from General Motors last year.
“In the next five to six years, starting from 2019, we will be launching a new product every year that will entail an investment of over Rs5,000 crore. This includes Rs2,000 crore which we are already investing on the Halol plant,” MG Motor India president and managing director Rajeev Chaba told reporters in New Delhi.
