The JV will benefit both companies…
SAIC-owned MG Motor India has inked a joint venture with JSW in India. The new entity, named ‘ JSW MG Motor India Pvt Ltd’ will have a strong focus on developing and launching New Energy Vehicles (NEVs) in India along with developing the EV infrastructure here. Sajjan Jindal’s JSW Group had recently bought 35% stakes in MG India.
Valuated at 23 billion USD, JSW is India’s leading conglomerate with interests across B2B and B2C spaces. MG’s parent company SAIC is a global Fortune 500 concern with over 110 billion USD in annual revenue. The entity ‘JSW MG Motor India Pvt Ltd’ is expected to bring about new dawns for the brand in India.
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The joint venture will have a high focus on local manufacturing and localisation at large. This could, in the long run, make EVs and new energy vehicles more accessible and affordable. The JV is expected to benefit both MG and JSW. While JSW could benefit from the British brand’s rich experience in automotive manufacturing, MG could capitalise on JSW’s expertise in manufacturing at scale.
Key Highlights Of MG JSW Joint Venture
- Strong focus on developing EV ecosystem.
- Plans to launch hybrids and other new energy vehicles, and not just EVs.
- Aggressive product onslaught in plans.
- Plans to Pump up the production capacity from the current 1 lakh/annum to 3 lakh/annum.
- Plans to launch premium passenger EVs as well.
- Extremely high focus on local manufacturing and localisation. Orissa and Gujarat will act as manufacturing hubs.
Road Ahead: Upcoming MG Cars In India
JSW MG Motor India is planning for an aggressive product onslaught. It will launch a new car every 3-4 months, starting from September 2024. The brand has also announced its intentions to enter the ‘premium passenger vehicle channel’. So what could be coming your way?
- MG4 EV hatchback
- MG5 EV
- MG Cyberster
Cyberster?Well, MG is finally bringing the world’s first electric sports convertible to the Indian shores! The car is already on sale in many international markets. In fact, MG had a Euro-spec Cyberster on display at the ‘JV announcement event’ (It looks sick!). The brand has, however, been tight-lipped about its specifications or technical data.
ALSO READ: MG Comet EV Review, Road Test: Real World Driving Impressions
Upcoming MG cars in India could also include the electric micro-SUV (based on Baojun Yep and Wuling Cloud). We have no confirmed information on these yet.
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