JSW and MG have officially detailed their plans in India at an event in Mumbai. The joint venture between the two companies will be called ‘JSW MG Motor India’ after JSW picked up a 35 per cent stake in MG in November 2023. At the event, the company announced its plans to launch new products including BEVs and PHEVs every three to six months starting from September 2024 and set up a countrywide charging network. Models such as the MG Cyberster, MG4 and MG5 were showcased at the event although, the company made no mention of when these products will make it to India. The company also stated its manufacturing goals, which will involve the deep localisation of production and R&D with its facilities in Gujarat and Odisha.
Also Read: JSW Signs MoU To Build EVs, 50 GWh Battery Plant In Odisha With Rs 40,000 Cr Investment
Models such as the MG Cyberster, MG4 and MG5 were showcased at the event
Commenting on the JV between MG and JSW, Sajjan Jindal, Chairman, JSW Group said “Our idea is to bring one car every three to six months down the road from September 2024 onwards. These cars will be state of the art and the likes of which India has never seen. They will be manufactured in India not only for the Indian market but also to be exported to markets worldwide. That’s my dream and what I’m working on. Secondly, we will do deep localisation. We will design, do R&D and manufacture the vehicles right here in India. We’re also working to build a charging network in India. So with MG, my dream is that we will create a Maruti movement for EVs similar to 1984 when Maruti came into India and changed the auto industry. I’m really looking forward to these New Energy Vehicle Cars that the people of my country will drive.”
Also Read: MG Cyberster Electric Roadster Makes India Debut
JSW India recently signed a memorandum of understanding (MOU) with the Odisha government to set up an integrated electric vehicle (EV) and EV battery manufacturing plant in Cuttack and Paradip. The battery plant will have a capacity of up to 50 GWh, and the integrated unit will also include a lithium refinery, copper smelter and other EV component manufacturing units. Additionally, the enterprise also aims to scale up the production capacity at MG’s plant in Halol, Gujarat. All this will result in a production capacity of almost 3 lakh vehicles annually, which it will use to manufacture vehicles for the Indian market as well as to be exported to other markets.
Also Read: JSW Group Acquires 35% Stake In MG Motor India; Enters Into JV With SAIC
MG will offer many plug-in-hybrid and BEV models for sale in India in due course
MG currently has a wide lineup of BEVs and plug-in hybrids in its global lineup that it will launch in India in due course. The brand has also stated that these products will be “attractive value propositions” and will enable the company’s foray into the premium vehicle market. The brand has stated that it plans to launch 2 vehicles this calendar year, with the first one slated to arrive in September 2024. One of the most exciting showcases at the company’s event was the 2-door MG Cyberster EV, along with the MG4 and the MG5, all of which will likely make it to the Indian market in the future.
