MG-JSW to launch new cars every 3 to 6 months in India
In November 2023, JSW Group and SAIC Motor signed a Joint Venture (JV) which would aid MG Motor in India to expand their business. Today, the JV has officially been named 'JSW MG Motor India Pvt Ltd' and the brand aims to launch a new car every 3 to 6 months within the country.
Under the MG 2.0 strategy, the brand will not just focus on EVs but also plug-in hybrids. Plug-in hybrids are not a very common concept in India but MG believes that the market has the capacity to take on this segment. No details have been confirmed yet but 2 new cars are slated to be launched in the coming months.
Parth Jindal, member of the Steering Committee of JSW MG Motor India, expressed his intentions to make India a more EV-consuming market. Less than 2 percent or only 80,000 EVs were sold in the year 2023. For comparison, China sold about 80 lakh New Energy Vehicles (NEV) in the same year. With the help of this JV, Parth expects India to sell about 40 lakh EVs annually.
The collaborative partnership with JSW Group would assist MG Motor India significantly in localise its forthcoming models which shall aid in pricing them attractively. In addition, the cooperation is heavily focused on clean transportation, with ambitions to launch plug-in hybrid vehicles (PHEVs) in India.
According to the deal, JSW will own 35 percent of the Indian JV activities. SAIC will continue to provide technology and products to the joint venture in order to bring mobility solutions to the Indian customer. The joint venture would also enhance production capacity at MG's Halol factory in Gujarat, from the present 1 lakh plus automobiles to up to 3 lakh units per year.
Rajeev Chaba, CEO Emeritus of MG Motor India, said, "This foundation empowers us to embark on a new chapter, MG 2.0, and the joint venture marks a pivotal step in this journey. We will offer a range of vehicles from ICE to NEVs, staying focused on building a robust and sustainable EV ecosystem in India. We are firmly committed to expanding our manufacturing footprint with extensive localization by leveraging JSW Group's extensive knowledge and expertise in manufacturing at scale."
SAIC and JSW Group will collaborate to build a smart and sustainable automotive ecosystem in India by accelerating the development of NEVs and ICEs with Carbon Neutrality, Sustainability, and Green Mobility at the forefront of their shared vision. Both JV partners are committed to remaining involved in the Indian market in order to achieve long-term success.
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1796cc
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160.4
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12.82 Kmpl
Starts Rs 22 Lakhs
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