JV to focus on creating a robust EV ecosystem with forward and backward integration of the supply-chain.
20 Mar 2024 | 9225 Views | By Autocar Professional Bureau
SAIC Motor and JSW Group, have announced the business roadmap for their new strategic Joint Venture - JSW MG Motor India Pvt. Ltd. (JSW MG Motor India), that will aim to capitalise on the significant opportunities emerging in the Indian automotive sector.
JSW MG Motor India will also leverage synergies ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
SAIC Motor and JSW Group, have announced the business roadmap for their new strategic Joint Venture - JSW MG Motor India Pvt. Ltd. (JSW MG Motor India), that will aim to capitalise on the significant opportunities emerging in the Indian automotive sector.
JSW MG Motor India will also leverage synergies across JSW Group’s ecosystem. Itaims to bring in advanced and futuristic technologies, new-age mobility solutions while enhancing local sourcing by establishing a strong supply chain. JSW MG Motor India aims to build a smart, sustainable EV ecosystem while continuing to stay focused on developing a diverse portfolio of vehicles tailored to meet customers’ unique preferences and requirements.
The joint venture plans to launch a new product, including NEVs, every three to six months, beginning this festive season, with two new products slated to be launched this calendar year. These futuristic products with attractive value propositions enables the joint venture’s foray into the premium passenger vehicle channel.
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.”
“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 localisation by leveraging JSW Group’s extensive knowledge and expertise in manufacturing at scale.”
The company will expand its production capacity in Halol, Gujarat, with a focus on producing NEVs. This will significantly increase the production capacity from the current 1,00,000 plus to up to 3,00,000 vehicles annually.
JSW MG Motor India will focus on strengthening its research, development, and technical prowess by setting up an R&D centre to cater to the different choices of car buyers that will develop connected, new-age and local mobility solutions, giving automobile customers better access to advanced technologies and futuristic products with attractive value propositions.
With Carbon Neutrality, Sustainability, and Green Mobility at the core of its vision, the joint venture will stay focused on accelerating faster adoption of EVs. By 2030, the company aims to take leadership position in the NEV category with an extensive product portfolio comprising New Energy Vehicles.
JSW MG Motor India’s new business roadmap will also focus on creating a considerable number of employment opportunities and developing a large talent pool in the country, a move that will benefit local communities. In addition, the company will work towards skilling 1,00,000 students and upskilling employees with the expertise needed for EVs, Autonomous and Connected car technologies.
Also read: JSW Group wants to create 'Maruti Movement' with new energy vehicles, aims to disrupt auto industry
Also read: JSW MG Motor India targets 1 million EVs, PHEV sales by 2030