British carmaker MG Motor (Morris Garages) today said it has shortlisted five Indian startups under its innovation programme as the company aims to bring additional synergies to the automotive business.
The startups finalised by the auto firm are CarIQ, Steradian Semi, Altigreen Propulsion Labs, Exploride and Zuper.
The finalists were selected from over 200 applicants in 20 days through the recently launched ‘MG Drives Innovation’ programme.
"It is heartening to see ground-up hardware and core product innovations from young teams across India. We are excited to evaluate the capabilities of these startups which will help us add value to our business," MG Motor India President & MD Rajeev Chaba said in a statement.
Last year, MG Motor moved a step closer towards establishing full scale operations in the country by acquiring General Motor's Halol plant in Gujarat.
MG Motor India, a wholly-owned subsidiary of China's largest automaker SAIC Motor Corp, aims to launch its first product in 2019 and follow it up with another a year later.
While the SUV segment remains important, the company is yet to finalise products for the Indian market.