SAIC Motor, a global Fortune 500 company with annual revenues of approximately US$110 billion and a presence in over 100 countries, along with the US$23 billion JSW Group, India’s leading conglomerate spanning B2B and B2C sectors, have announced the business roadmap for their strategic Joint Venture – JSW MG Motor India Pvt. Ltd. This collaboration heralds a new era of mobility in India, capitalizing on the significant opportunities emerging in the rapidly evolving automotive sector.
JSW MG Motor India is committed to introducing cutting-edge innovation across its operations, leveraging world-class technology, bolstering the manufacturing landscape, creating substantial employment opportunities, and offering smart and sustainable products focused on customer-centricity. The company’s business roadmap emphasizes extensive localization and the development of a robust automotive ecosystem across India.
The joint venture capitalizes on SAIC Motor’s automotive experience and technical expertise, combined with JSW Group’s manufacturing prowess in India. Leveraging synergies across the JSW Group’s ecosystem, JSW MG Motor India aims to introduce advanced technologies and new-age mobility solutions while enhancing local sourcing through a robust supply chain. The company aims to establish a smart, sustainable EV ecosystem while continuing to develop a diverse portfolio of vehicles tailored to meet customer preferences.
JSW MG Motor India plans to launch a new product, including New Energy Vehicles (NEVs), every three to six months, starting this festive season, with two new products slated for launch this calendar year. These futuristic products with attractive value propositions mark the joint venture’s entry into the premium passenger vehicle channel.
Parth Jindal, Member of the Steering Committee of JSW MG Motor India, expressed confidence in the joint venture’s potential to deliver world-leading products in India, leveraging the strengths of both SAIC and JSW. He emphasized the goal of becoming the leading auto OEM in the NEV segment in India, offering world-class cars at affordable prices.
Rajeev Chaba, CEO Emeritus of MG Motor India, highlighted JSW Group as an ideal local partner to continue the growth story of the MG brand in India. He emphasized the company’s commitment to expanding its manufacturing footprint and offering a range of vehicles from ICE to NEVs.
The company plans to expand its production capacity in Halol, Gujarat, focusing on producing NEVs, which will significantly increase production capacity to up to 300,000 vehicles annually.
JSW MG Motor India will establish an R&D center to cater to the different choices of car buyers, focusing on developing connected, new-age, and local mobility solutions. The company aims to accelerate the adoption of EVs, with a vision to lead the NEV category by 2030.
With a focus on carbon neutrality, sustainability, and green mobility, the joint venture aims to become carbon neutral by 2029, utilizing renewable resources for over 60% of its energy requirements. Additionally, the company plans to create employment opportunities and develop a large talent pool in the country, while also focusing on skilling and upskilling initiatives for EVs, Autonomous, and Connected car technologies.
