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SAIC Motor (MG Motors) and JSW Group finalise automotive JV

MG Motor (a British brand owned by Shanghai-headquartered SAIC Motor) and the JSW Group have announced their automotive Joint Venture, named ‘JSW MG Motor India Pvt Ltd‘, aiming to capitalize on opportunities in the Indian automotive sector. The joint venture combines SAIC Motor’s automotive experience and technical expertise with JSW Group’s manufacturing capabilities in India. JSW MG Motor India aims to introduce advanced technologies and sustainable products tailored to customer preferences while enhancing local sourcing and supply chain integration.

JSW MG Motor India intends to introduce new products, including New Energy Vehicles (NEVs), every three to six months starting this festive season. Two new products targeting the premium passenger vehicle segment are slated for launch this year. The company will enhance its production capacity in Halol, Gujarat, to focus on NEV manufacturing, aiming to raise annual production from 100,000 to 300,000 vehicles.

According to Parth Jindal, Member of Steering Committee of JSW MG Motor India, “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.”

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.”

JSW MG Motor India plans to establish an R&D center to enhance research, development, and technical capabilities, addressing diverse car buyer preferences. This center will focus on developing connected, new-age, and local mobility solutions, ensuring customers access advanced technologies and varied product offerings. The company emphasizes creating employment opportunities and fostering local talent by aiming to skill 100,000 students and enhance employees’ expertise in EVs, Autonomous, and Connected car technologies, as stated by the company statement.

With a vision centered on Carbon Neutrality, Sustainability, and Green Mobility, the joint venture aims to accelerate the adoption of EVs. By 2030, it aims to lead in the NEV category with an varied product portfolio. Currently, over 60% of the company’s energy needs at its Halol (Gujarat) manufacturing operations are met through renewable resources, with plans to achieve Carbon Neutrality by 2029, as claimed by the official source.

Also read: Switch Mobility to operate 71 electric buses for JSW employee transport

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