Rapidly ascending as a notable Chinese brand, MG has unveiled its ambitious blueprint for growth in the Australian market. Focused on broadening its lineup and venturing into the high-end segment of electric vehicles, the automaker recently introduced the MG4, an electric hatchback. During this launch event, CEO Peter Ciao affirmed the company’s intention to introduce a premium model, the X-Power, within the upcoming year.
Positioned as the flagship of the MG4 series, the X-Power model boasts an impressive dual-motor setup, delivering a robust 320kW of power. This augmented power capacity demonstrates MG’s determination to compete at the upper echelons of the electric vehicle domain. Prospective buyers can anticipate the X-Power’s price point to exceed $60,000, signifying a substantial investment. Nonetheless, this premium offering is poised to captivate the discerning tastes of luxury-oriented EV consumers.
In the near future, MG’s product lineup will be revitalized with the introduction of updated versions of the MG3 hatchback and HS family SUV models. The recent launch of the MG5 sedan adds to this momentum. Additionally, a new electric SUV, potentially named the MG LS6, is on the horizon. This sizable coupe-style SUV, projected to command a six-figure price, is slated for release by the conclusion of the coming year.
Envisioning a substantial market reception, MG holds optimistic projections for the MG4, with a target of 1000 units sold per month, and a potential escalation to 2000 units should supply accommodate. This ambitious sales objective, starting from a base price of $38,990 plus on-road costs, positions the MG4 as a compelling alternative to conventional petrol and hybrid hatchbacks. Impressively, the MG4 has already garnered more than 1000 orders to date.
Over the past six years, MG has achieved remarkable success in the Australian market. The brand’s competitive pricing and extensive feature offerings have resonated with consumers, particularly in comparison to mainstream manufacturers that have phased out more economical models from their portfolios. With an impressive sales figure exceeding 32,000 units within the initial seven months of the current year, MG is on track to surpass prominent brands such as Volkswagen, Subaru, and Nissan, potentially securing a spot within the top five car manufacturers in the nation.
MG’s resounding success within the Australian market is nothing short of exceptional. The brand’s appeal to value-conscious buyers is evident through its competitive pricing and diverse model range. As MG gears up to expand its product range, the existing momentum is expected to persist. The brand is poised to potentially challenge well-established competitors and emerge as a prominent contender in the Australian automotive landscape.