The SAIC-owned company's plan to raise funds for expansion and to strengthen its presence in the EV segment had hit a wall amid increased government scrutiny of Chinese investments in India. Led by a good response to the ZSEV and launch of another EV model later this year in the ₹10-15 lakh segment, MG sees the share of EVs in its overall volume more than doubling to 25-30% by 2023-end.
