JSW and MG Motor India join hands, plan to launch a new car every 3-6 months

The JV will bring together SAIC's technological expertise and JSW Group's manufacturing capability to manufacture at scale. SAIC, which owns MG Motor India, is China's largest automobile manufacturer. Recently, the Competition Commission of India (CCI) gave a nod for the joint venture, paving the way for JSW Group to pick up a 35% stake in MG Motor India.

"I am very sure India will move from a 4 million PV market to a 10 million PV market very soon. If India truly wants to become self-reliant then EVs are the way to go. We want to sell one million electric cars in 2030", said Parth Jindal, Member Steering Committee, JSW Motor India.

"Making cars was my childhood passion. While the passion stayed I digressed into making steel. The idea of making cars remained in my head. When new electric vehicles came in 2016, I felt we should get it into electric cars", said Sajjan Jindal, Chairman JSW Group.

JSW Group is looking to create a robust electric vehicle ecosystem with forward and backward integration of supply chains. Jindal said the JV will deeply localise, design and manufacture new energy vehicles not just for India but developed global markets. "We will create a churn and disrupt the market. MG and JSW will be unmatchable. We look forward to bringing in a new energy Maruti moment", he said.

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.” The joint will offer a range of vehicles from ICE to NEVs, staying focused on building a robust and sustainable EV ecosystem in India, he added.

Along with the focus on new energy vehicles, the JV also announced a foray into a premium channel with the unveiling of the MG Cyberster. The new premium car will be launched in October this year.