Eurokars Group bets big on MG as part of $47 million showroom and facility revamp

Mr Karsano Kwee and his daughter Charmain Kwee will launch the new IM EVs in Singapore by the third quarter of 2025.ST PHOTO: CHONG JUN LIANG

SINGAPORE – In 2025, half of all electric vehicle (EV) registrations will be from Chinese brands, with premium European brands taking the other half. This is the projection by Mr Karsono Kwee, executive chairman of multi-franchise motor dealer Eurokars Group.

Speaking to The Straits Times in an exclusive interview on Jan 9 at MG’s exhibition booth at Suntec Singapore Convention and Exhibition Centre, the 76-year-old motor tycoon is driven to take a sizeable chunk of the Chinese EV pie in Singapore.

He is doing this by rejuvenating the Chinese-owned MG brand with new products and showrooms. This is part of a refresh to two of his company’s properties, which is expected to cost between $45 million and $47 million.

The MG distributorship, which Eurokars clinched for Singapore in 2020, has been a steady sales performer, being the second biggest-selling Chinese brand in the country. MG offers EVs and petrol-hybrid models in Singapore, giving it a broader appeal than other Chinese brands that have only EVs.

But just as leading Chinese brand BYD is pulling well ahead of pretty much every other car brand in Singapore, MG is mounting a sustained product offensive, said Mr Kwee.

In the next 12 months, seven new and refreshed models will land in its Singapore showroom. Five will wear the familiar octagon-shaped MG badge, while two will be branded with a stylised “IM” emblem. IM Motors is MG’s premium offshoot.

The IM5 is a low-slung EV, which is nearly as big as the Porsche Taycan, while the IM6 is a large electric sport utility vehicle (SUV) with hints of the Aston Martin DBX. Both are expected to be in Singapore by the third quarter of 2025. In China, the cars are known as the IM L6 and IM LS6.

The exact specification and likely pricing of these models for Singapore are still being worked out, but for Mr Kwee and his daughter Charmain Kwee, who is the group’s executive director, the IM products will be benchmarked against BYD and American EV brand Tesla.

IM Motors was founded in 2020 as a joint venture among e-commerce giant Alibaba Group, Shanghai-listed property developer Zhangjiang Hi-Tech and MG’s owner, Chinese state-owned carmaker SAIC Motor.

The products are said to have a technology focus, boasting faster charging speed, longer operating range and advanced safety features.

Based on the IM5 and IM6 displays at Suntec, IM models seem to have a more flamboyant bent than MG’s.

The LED tail lights on the IM5, for example, display an animated puppy. The steering on the IM6 has an unusual aircraft control yoke design, which Tesla popularised. An MG spokesperson said the cars that will be sold in Singapore will likely have a more conventional circular steering wheel design.

The current plan is for IM models to be presented together with MG, albeit in a separate section. Mr Kwee does not rule out setting up a standalone showroom for IM later on. BYD did so from the start with its luxury arm, Denza, in Singapore in 2024, like Toyota with Lexus.

To accommodate the fresh model portfolio, Mr Kwee is moving MG from its current location at 19 Leng Kee Road, which is a rented space, to his property at 11 Leng Kee Road by June. Eurokars had previously used the space for BMW, when it was preparing the permanent facilities at 29 Leng Kee Road and 11 Kung Chong Road for the German luxury brand.

Broadening the brand’s reach, MG’s service location at 5 Ubi Close will be upgraded to include a showroom for MG and IM by the end of 2025. This is the complex where Eurokars also houses its Mazda main dealership and workshop.

Moving in: MG will have showrooms in Leng Kee and Ubi to power its growth. PHOTO: EUROKARS EV

A third Eurokars-owned property at 23 Leng Kee Road, currently a low-rise building used by Mazda, will be rebuilt. When that is ready, the eight-storey building will house the MG and Mazda showrooms, as well as the service facility for both brands.

Construction is expected to take around two years, depending on how quickly the necessary approval process is finalised.

Mr Kwee said: “With all the products coming, we have to be ready with our infrastructure to support the growth of MG in Singapore.”