The company claims that the price revision is a result of various efforts made over the past two years, including material pricing, logistics, commodities, contracts, and efficiencies.
Gaurav Gupta, Deputy MD of MG Motor India, said that the company's planning along with declining lithium prices worldwide, led to the cost reduction.
Despite the lower price, the MG ZS EV Executive variant retains the same 50.3 kWh battery, offering a range of up to 461 km on a single charge. More details about its features are yet to be disclosed.
In addition to the new variant, MG Motor has also reduced prices across its other models.
The MG Comet, previously priced at INR 7.99 lakh (ex-showroom) for the base variant, now costs INR 6.99 lakh (ex-showroom) after a price drop of INR 1 lakh.