Chinese car maker MG is planning to add three new models to its lineup and top 1 million annual sales by 2024.
According to UK magazine AutoCar, MG will enter up to 100 global markets to achieve the feat as part of its ‘Mission 100’ strategy – which also coincides with the brand’s 100th anniversary.
MG sold 298,000 cars globally in 2019 – meaning it will need to more than triple its current output to hit its target.
Above: MG ZS
MG’s parent company SAIC says now is the time to begin growing the brand internationally.
“The products and business plans are already thought out,” SAIC vice president Yang Xiaodong told Autocar magazine.
“We have planned this for a while. We now feel the company has the necessary maturity, and the conditions are right.”
To hit the target, MG's lineup will have three all-new models and four updated versions of current models by 2024, the report says.
Above: MG Cyberster concept
Last week, MG showed off concept renderings for its new Cyberster roadster which is likely to join as one of the three all-new vehicles.