(Bloomberg) -- MG Motor has unveiled an electric roadster in its first break from the family-oriented models it has sold since being bought by Chinese investors 16 years ago.
The two-seater Cyberster, which taps into the marque's 1960s design classics like the MG Midget and MGB, will hit showrooms in China in 2023 before arriving in the UK and Europe in the middle of next year, according to Guy Pigounakis, commercial director for MG Motor UK Ltd. With a starting price of £50,000 ($63,300), the car is a key part of MG's mission to capitalize on the brand's British heritage.
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“This is about the brand going back to its roots,” said Carl Gotham, MG's design director. The two-seater sportscar, featuring scissor doors, will be a “brand builder,” rather than a driver of mass sales.
MG has jumped on the transition to EVs, becoming one of the earliest Chinese-owned manufacturers to break into the European market. So far this year, sales in the UK are 55% higher than last at 25,000 cars, and that rate is being “eclipsed” in mainland Europe, according to Pigounakis.
The growth in part reflects MG's success in keeping prices down, something that has evaded many of the European EV manufacturers, enabling it to compete with rivals such as Tesla Inc. Its all-electric SUV, the MG ZS EV, starts at about £30,495.
The Cyberster release marks a significant moment for MG in appealing to its British origins after being bought by the Shanghai Automotive Industry Corporation in 2007. While MG retains design facilities in the UK, it hasn't produced cars there since shutting its Longbridge plant near Birmingham in 2016.
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