• By Anirban Mitra
  • Wed, 20 Mar 2024 01:36 PM (IST)
  • Source:JND

In what could be a disruptive move in the Indian automobile industry, SAIC-backed MG Motor India on Wednesday announced its joint venture with JSW Group, laying out their business roadmap for accelerated growth under MG 2.0. 

The new entity, coined as JSW MG Motor India Private Limited, aims to build an EV ecosystem with end-to-end supply chain management. JSW Group is the largest steel manufacturer in India and has a presence in several sectors including infrastructure, renewable energy, paint, maritime and defence. 

ALSO READ: BMW 620d M Sport Signature Launched In India Starting Rs 78.90 Lakh; Check Features, Engine Specs

The venture will fuel MG’s growth story in India. The automaker has a manufacturing facility in Halol, Gujarat. As per officials, JSW’s support will aid MG ramp up production capacity to thrice the volumes from the current one lakh units per annum. The business roadmap for the company focuses on extensive localisation and development of a robust automotive ecosystem across the country.

It could be exciting times ahead for customers as the JV deliberated on an aggressive product onslaught. Officials said the partnership intends to roll out a new launch every three to six months starting this festive season, with a focus on New Energy Vehicles (NEVs). MG Cyberster electric concept will be put on display alongside other cars in the portfolio. 

Rajeev Chaba, CEO Emeritus of MG Motor India, said, "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.” The association also aims to expand its manufacturing footprint with extensive localization by leveraging JSW Group's extensive knowledge and expertise in manufacturing at scale, Chaba added.

ALSO READ: Tata Curvv EV Spied Testing On Roads, May Launch Later This Year; Details

Calling it a momentous joint venture, Parth Jindal, a Member of the Steering Committee of JSW MG Motor India, said, “By leveraging the legacy of the 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, Jindal added.