Electric cars drive UK MG sales to more than £1bn

MG Motors, owned by Chinese company SAIC Motor Corp, has reported over £1 billion in UK sales for 2022, largely driven by demand for its electric and hybrid vehicles. The company’s sales volumes more than doubled, and it posted pre-tax profits of £54.2 million in the UK for 2022, up from £4.3 million the previous year.
MG Motors, originally a British brand, is now manufactured in China, where it has found success in producing affordable electric cars and hybrids, making it a competitive player in the automotive market. China has emerged as a major exporter of vehicles and a key player in the electric vehicle market.