Mumbai, August 26, 2026, 23:20 (IST)
- Prices for the MG Hector Tomahawk EV begin at ₹1.95 million, excluding the cost of battery rental.
- The 69.2-kWh electric vehicle is reported to have a certified driving range of 517 kilometres.
- The PHEV is priced from ₹2.57 million and has a stated combined range exceeding 1,100 kilometres.
- SAIC Motor ended up 0.78% at CN¥10.39 in Shanghai.
India’s family-SUV market gets two hybrid options with MG’s Hector Tomahawk. The brand’s battery-rental scheme further shifts car ownership costs towards a subscription model.
JSW MG Motor India, supported by SAIC, introduced its electric and plug-in hybrid models on Wednesday. Booking is now open. Electric vehicle deliveries will commence in September, with plug-in hybrid units expected to be delivered starting November.
SAIC Motor Corporation Limited (SHA:600104), the Chinese parent firm of the MG venture, ended trading at CN¥10.39 with a rise of 0.78%, as 32.57 million shares changed hands. Its market capitalisation stood at CN¥117.79 billion.
Battery-as-a-Service is the Tomahawk’s main commercial strength. Customers have the option to exclude the battery from the initial price and instead pay for battery use based on distance traveled.
This reduces the EV’s starting price by ₹550,000, a drop of 28.2%. The discount on the PHEV comes to ₹390,000, or 15.2%. For 10,000 kilometres each year, stated rental rates are ₹49,000 and ₹32,000, respectively.
| Hector Tomahawk | EV | PHEV |
|---|---|---|
| Base price | ₹1.9498m | ₹2.5698m |
| BaaS entry price | ₹1.399m | ₹2.179m |
| Battery lease | ₹4.90/km | ₹3.20/km |
| Battery pack | 69.2kWh | 20.5kWh |
| Electric-only range | 517km | 115km |
| Total driving range | Not applicable | 1,100km+ |
| First deliveries | September 2026 | November 2026 |
The EV delivers 150 kilowatts of power and 310 newton-metres of torque. According to MG, it can accelerate from zero to 100km/h in 8.2 seconds. Charging the battery from 30% to 80% with a 90-kilowatt charger takes approximately 35 minutes.
The seven-seat PHEV combines a 1.5-litre petrol engine and a 20.5-kWh battery. Its electric-only range of 115 kilometres is designed for city driving, while still allowing for long trips.
This model is the first from MG India to utilize its ADAPT architecture. The platform accommodates both battery-electric and hybrid powertrains. By using a common base, engineering and supplier expenses can be shared among several variants.
The launch is part of a broader investment plan. JSW MG intends to invest between $330 million and $440 million, aiming to increase yearly production capacity to 300,000 vehicles from the current 120,000. It reported 70,500 vehicle sales in 2025, a rise of 15.6%.
Every percentage point of the targeted capacity represents 3,000 vehicles. Tomahawk requires substantial sales, beyond initial launch interest, to boost plant utilization.
The venture posted a loss of $121 million for the year ending March 2025. Managing director Anurag Mehrotra has pinpointed increased local sourcing as a key strategy to improve profitability. This approach could lower exposure to currency fluctuations and reliance on sea freight.
SAIC shares are currently valued at around 11.6 times trailing earnings. The company reported trailing revenue of CN¥655.8 billion and net income of CN¥10.1 billion. While India is currently a minor contributor, losses and earmarked capital there make its future results significant.
Risks: Initial prices are valid only for early, limited volumes. BaaS reallocates costs instead of eliminating them. Factors including qualification, charging access, domestic rivals, and restrictions on Chinese investment may delay uptake.
Further key data is expected soon. September EV registrations will indicate if Tomahawk translates over 50,000 searches into successful deliveries and actual use.
