SAIC Motor and JSW Group have formed a new Joint Venture (JV) – JSW MG Motor India Pvt Ltd (JSW MG Motor India) and have announced the business roadmap for the same. The new JV will focus on the evolving Indian automotive sector. At the event, the new Cyberster EV was also unveiled for the first time in India.
The company will focus on localisation and development of automobiles across the country. The new JV, the company say, will bring in technology, and will improve manufacturing while creating employment and offering products that are customer-centric.
JSW MG Motor India said they aim to bring in advanced technologies, mobility solutions while also making use of local sourcing by developing a strong supply chain. They also said they aim to build and EV ecosystem. The JV will launch a new product, every three to six months, with two new products slated to be launched this calendar year. The focus will be on new energy vehicles (NEVs)
JSW MG Motor India will expand their production capacity in Halol, Gujarat, going forth. Production capacity is said to go from the current one lakh plus units to up to three lakh units annually. The company will also be setting up a research and development centre to study and analyse more in order to cater completely to the different choices of car buyers. The new research and development centre will develop connected, new-age and local mobility solutions, giving buyers access to better technology and futuristic products that also sit right in the pocket.
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.”
As mentioned earlier, the JV will be focused on accelerating the growth of EVs and by 2030, the company aim to take lead in the NEV category. The company now utilises over 60 per cent of its energy requirements for manufacturing operations at Halol from renewable resources and is working towards becoming carbon neutral by 2029.
