The recently unveiled MG Cyberster, MG 4 hatchback and MG 5 estate could launch in India in the future along with Gloster facelift
JSW MG Motor India joint venture is poised to make a bigger splash in growing Indian automotive market. This JV has set the focus on offering a robust EV ecosystem. The company plans to take bigger strides in premium passenger vehicle channels and position their upcoming products accordingly. Sajjan Jindal, MD, JSW Steel stated that their partnership with MG Motor will create ‘Maruti Moment’ in the Indian automotive industry. One can expect this JV to deliver a similar kind of disruption, that was brought by Maruti around 40 years ago.
JSW MG Motor India JV Future Roadmap
The new entity, JSW MG Motor India Pvt Ltd, held a grand event in Mumbai today to announce their ambitious plan of launching a new vehicle every 3 – 6 months. The company plans to start this product onslaught as early as September 2024 festive season. JSW Group is one of India’s leading conglomerates with interests in B2B and B2C sectors.
MG Motor India is a subsidiary of SAIC Motor, one of the largest car manufacturers in China. Together, JSW and SAIC Motor intend to cater for the newfound surge in India’s fast-growing automotive sector. JSW MG Motor India will usher into a new era of providing mobility solutions in the Indian market.
Sticking to customer-centricity, the joint venture aims to provide smart and sustainable products with a major focus on localization and developing a robust automotive ecosystem across India. The focus of this plan is to incorporate a robust electric vehicle (EV) ecosystem and to crack the seemingly growing premium passenger vehicle channel.
The main highlight of this joint venture is a fusion of SAIC Motor’s extensive automotive experience along with technical expertise and JSW Group’s impeccable expertise in manufacturing at scale in India. Combining the strengths of both juggernauts, JSW MG Motor India is poised to design and develop new-age, futuristic, smart and sustainable products tailor-made to meet customer’s unique preferences and evolving trends.
What to expect?
This joint venture plans to launch one NEV (New Energy Vehicle) every 3 – 6 months, starting from September 2024 festive season. This calendar year will witness two new launches, at the least. The JV is also pledging to set up a new R&D centre to develop local mobility solutions tailored to meet varied choices of car buyers and evolving buying trends in India.
There will be a push for faster adoption of electric mobility, aligning company’s interests in carbon neutrality and sustainability. Around 60% of company’s energy requirements are met with renewable energy sources and aims to go 100% renewable and carbon neutral by 2030. In broader scheme of things, JSW MG Motor JV will provide employment opportunities along with plans to skill 1 lakh students and up-skilling employees in evolving automotive technologies.
JSW and MG’s vision for NEVs (New Energy Vehicles) will be implemented in a phase-wise manner. This JV intends to start with two new launches by the end of 2024. Furthermore, the company will almost triple its production headroom to 3 lakh units annual capacity at the Halol plant in Gujarat. Goal is to accelerate adoption of EVs and be at the forefront of NEVs by the end of 2030.
According to Parth Jindal, Member of Steering Committee of JSW MG Motor India, “The JSW MG Motor India joint venture is a momentous joint venture. It is the coming together of two giants in SAIC and JSW. By leveraging the legacy of a world renowned British brand, cutting edge MG technology and JSW’s local manufacturing knowledge and acumen, I have no doubt that JSW MG will make world leading products in India for India and the world. It is our goal to be the leading auto OEM in the NEV segment in India and we will be working tirelessly to bring the best available technology into India so that we can give the Indian consumer what they truly want which is world class cars at affordable prices. MG India 1.0 has had a very good 5 years and it is now up to the joint venture to make MG 2.0 even more impactful and successful. We are grateful that SAIC chose to partner with us and can’t wait to get going.”
Rajeev Chaba, CEO Emeritus of MG Motor India, said, “In JSW Group, we have found an ideal local partner to continue the growth story of the MG brand in India. In less than five years, Team MG India has established a rock-solid foundation – a testament to our commitment to innovation, diversity, community service and robust customer care. Today, we are among the fastest-growing OEMs in the country. 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.”
