JSW MG Motor India aims to make a mark in the CUV segment with its latest launch of the MG Windsor EV, at a starting price of Rs 9.9 lakh.
11 Sep 2024 | 2318 Views | By Prerna Lidhoo
In an industry first, JSW MG Motor India has launched the MG Windsor EV, at a starting price of Rs 9.99 lakh, in what the company claims is the country's first e-CUV.
This also marks the company's venture into the crossover Utility Vehicle (CUV) segment, which combines the comfort ...
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In an industry first, JSW MG Motor India has launched the MG Windsor EV, at a starting price of Rs 9.99 lakh, in what the company claims is the country's first e-CUV.
This also marks the company's venture into the crossover Utility Vehicle (CUV) segment, which combines the comfort of a sedan and the utility and benefits of an SUV.
This is the company's first vehicle launch, following the joint venture between Mumbai-based JSW Group and Chinese state-owned automotive manufacturer SAIC Motor's British brand, MG established earlier this year.
"We spent six months researching on what should be the first product to come after the JV. This was the right product fit for the Indian market in terms of tech, space, comfort, and overall look and feel of the vehicle," Parth Jindal, Member of the Steering Committee at JSW MG Motor India said. Named after the Windsor castle in Berkshire, MG hopes that the CUV will be instrumental in building its future portfolio in India, while building a range of new energy vehicles (NEV).
The launch happens at a time when EV adoption is slowing, with 95,000 electric vehicles sold annually. MG Motor India held the second spot when it comes to EV sales.
To overcome the price disparity between ICE and EV, the company has launched 'battery as a service' program which involves lower acquisition cost and paying per kilometre for the battery.
"We're setting an industry benchmark of being price parity between EV and ICE and introducing a lifetime battery warranty for all first time owners.We're also busting the myth that EV batteries are more expensive than an ICE engine. Per kilometre, we'll charge Rs 3.5, plus one rupee is the charging cost, which is free for one year, from our public charging network.
In this segment, the mileage for an ICE vehicle works out to be around Rs 8-10 per kilometre. This will not only become India's car but also Bharat's car," Jindal adds.
The new model will further expand the company's electric vehicle lineup, which includes the ZS EV and the Comet EV. The Windsor EV is based on the Wuling Cloud EV that is sold in China.
"So, 35% of our sales come from NEVs, and EVs are growing at a rate of 63%. We see a new category emerging, the CUV. It represents the next big leap in the automotive industry. India is ready for the shift too. It's a vehicle that offers business class comfort with features of an SUV," Biju Balendran, MD, JSW MG Motor India said.
The company is aiming for 50% of its total sales from EVs.
MG recently also launched the eHub app to help address the issue of charge anxiety. "80% of India's EV charging infra covered in this app (was) launched just one month ago. We also have project Revive where we're repurposing EV batteries and giving it a second life," Balendran adds.
JSW Group had in March announced plans to invest $5 billion by 2030 in a joint venture aimed at selling 1 million “new energy vehicles (NEVs) (EVs and PHEVs),” which will include electric cars and hybrid cars. "MG 2.0 will see us launch new cars every 2-3 months with a focus on strong hybrids, plus in hybrids and battery electric vehicles. This will disrupt mobility in more ways than one," Rajeev Chaba, CEO Emeritus, JSW MG Motor India said.
To cater to the demand from its new launches, it's planning to increase production capacity from 100,000 units per annum to 300,000 units in its second plant in Halol.
MG currently offers five models in India—Hector, Gloster, Astor, Comet, and the ZS EV—holding a 1.26% market share in retail sales in FY24.