JSW MG to launch a new car every 3-6 months

The JSW MG Motor India joint venture has officially been announced. The new partnership brings with it the promise of scale and local manufacturing for the Group going forward. “We will create a Maruti movement - like what Maruti Suzuki did 40 years ago. We will create a New Energy Vehicle (NEV) Maruti movement,” announced Sajjan Jindal, Chairman and Managing Director of JSW Group. JSW Group now owns a 35 per cent stake in the partnership and with the JV, the Group will undertake new initiatives such as local part sourcing, capacity expansion, development of a new R&D centre for new products and building an automotive ecosystem.

The big news from the JV is the scale of operation, at least for now on paper. From the 4-5k units sold per month at present, the Group plans to ramp up production and expand its portfolio to hit the magical one million sales per annum mark by 2030. The ambitious plan is heavily dependent on the launch of a slew of PHEVs in the interim and a major EV assault in the automotive industry following that. While MG already has cars like the ZS EV and Comet in its EV portfolio, the scale that the Group aims to achieve will depend heavily on localisation. Jindal also announced localisation of batteries and electric motors in the future however timelines are unclear at the moment.

For now, we know that two cars will be launched this year and the Cyberster roadster will come to India next year as the first ‘premium’ offering from the brand. That said, JSW MG can swing momentum its way with the wide range of multi-fuel vehicles in the global SAIC MG portfolio. In the short term, the Halol plant’s capacity will be boosted to 3 lakh units from 1 lakh units to cater to any increase in demand.

JSW Group, under the leadership of Sajjan Jindal, stands as a significant Indian conglomerate since its establishment in 1982. Over the years, it has expanded into a formidable $23 billion enterprise, focusing on key sectors such as steel, energy, cement, and infrastructure. The group's reach extends beyond India, encompassing international operations in the United States, South America, and Africa. Demonstrating their aspiration for further growth, their recent collaboration with SAIC Motor-owned MG Motor India reflects JSW's aim to establish a significant presence in the automotive industry.