MG’s Renault 5 rival will hit roads by 2028 priced from around £22,000 and it will be fully designed in the UK.
Likely to be called MG 2, the new EV will sit below the MG 4 hatchback as the entry-level model to MG’s seven-strong EV line-up, which has been bolstered recently by the IM 5, IM 6 and MG S5.
MG UK boss David Allison mooted early plans for such a model to Autocar last year and, speaking at the Goodwood Festival of Speed earlier this month, he confirmed that the new EV will be priced competitively relative to the likes of the Renault 5, which starts at £22,995.
He said: “One of the things that we’ve always had is that affordable price position on EVs but we don’t have that any more. We are nowhere near the cheapest when it comes to EV sales, because so many other brands and so many other models come into that space now.
“So when I price that car, I will price it as aggressively as I can get away with and the view will be very much on affordability, very much on monthly payments.”
Allison confirmed that “fairly advanced” concepts have already been built, which suggests that production mules could soon begin testing.
Although he disclosed no technical details, it is understood that the new entry-level MG will use the same SAIC battery-electric Modular Scalable Platform as the MG 4.
It is likely that the new MG 2 will be benchmarked against the Renault 5, which is powered by a single 150bhp motor and offers a top-end range of 250 miles from a 52kWh battery.
Allison said the sales response to the Renault 5 has shown the market for small, affordable electric cars is much bigger than previously anticipated – and therefore it is crucial to launch such a model as soon as possible.
“The Renault 5 has made the job much more important,” he said. “I’ve always felt that was the next market that was going to happen, because as Europe transitions towards EVs, inevitably the easiest way of making them more affordable is downsizing.”
Asked how soon the car will arrive, given the segment is set to expand with the Volkswagen ID 2 and its Cupra and Skoda equivalents within the next 18 months, Allison said: “I want to sell it now, but I can’t have everything I always want. I think that car is still probably a couple of years away.”
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