SAIC Motor (parent company of MG Motor) and JSW have established a joint venture called JSW MG Motor India Pvt Ltd. Under this JV, the new entity will focus on creating a robust EV ecosystem. As a result of this cooperation, the production capacity will be increased from 1,00,000 to 3,00,000 annually. Another key area to focus on will be high localization. The JV will also cater to the premium electric vehicle segment with plans to launch NEVs (New Energy Vehicles) every 3-6 months. That is a bold commitment and indicative of how they plan to expand their footprint in the burgeoning Indian automobile market. Let us take a look at the details here.
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JSW and MG Motor India Announce JV
The production facility in Halol, Gujarat will focus on running operations using renewable energy. At present, 60% of its energy needs for the manufacturing facility come from renewable sources. It plans to become carbon neutral by 2029. JSW MG Motor India aims to enhance its research, development, and technical capabilities by establishing an R&D centre dedicated to meeting the diverse preferences of car buyers. This new facility will specialize in creating connected, innovative, and locally relevant mobility solutions, offering customers in the automotive industry improved access to cutting-edge technologies and futuristic products, all with appealing value propositions.
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Speaking on this momentous occasion, 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.”
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Parth Jindal, a Member of Steering Committee of JSW MG Motor India commented, “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.”
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Author’s Note
The clear focus of this new joint venture is to create the electric future of mobility. It wants to focus on the premium EVs. In fact, at this event, the company displayed the popular MG Cyberster as a show car to indicate what the future promises. We shall have to wait a bit longer to see the details of the outcome of this interesting JV.
