SAIC Motor and JSW Group launch JV for electric vehicles in India
Photo courtesy of JSW Group

SAIC Motor and JSW Group launch JV for electric vehicles in India

SAIC Motor, a leading Chinese state-owned automotive manufacturer, and JSW Group, a leading Indian conglomerate, have announced their collaboration to form a new strategic joint venture, JSW MG Motor India Pvt. Ltd. This partnership marks a significant milestone in the Indian automotive sector, aiming to redefine the landscape with a focus on electric vehicles (EVs) and sustainable mobility.

JSW MG Motor India is set to capitalise on the burgeoning opportunities in the rapidly evolving automotive market in India. With an initial production capacity of more than 100,000 vehicles annually, the joint venture plans to ramp up its output to 300,000 vehicles per year. The company’s aggressive product launch strategy includes rolling out a new vehicle every three to six months, starting this festive season, with a particular emphasis on new energy vehicles (NEVs).

The collaboration combines SAIC Motor’s extensive automotive experience with JSW Group’s deep-rooted manufacturing expertise in India. Together, they aim to foster a robust EV ecosystem, enhance local sourcing, and introduce cutting-edge technologies to the Indian market.

Parth Jindal, a member of the steering committee of JSW MG Motor India, expressed his enthusiasm for the joint venture, stating, “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.”

Rajeev Chaba, CEO Emeritus of MG Motor India, highlighted the partnership’s commitment to innovation and sustainability. “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 localization by leveraging JSW Group’s extensive knowledge and expertise in manufacturing at scale.”

The joint venture’s roadmap includes plans to expand its manufacturing footprint in Halol, Gujarat, with a focus on producing NEVs. It also aims to strengthen its research and development capabilities by setting up an R&D center to cater to diverse customer preferences.

With a vision centered on carbon neutrality, sustainability, and green mobility, JSW MG Motor India is poised to lead the NEV segment in India by 2030. The company’s commitment to renewable energy is evident in its Halol manufacturing operations, which currently utilize over 60% of energy from renewable sources, with a goal to become carbon neutral by 2029.

The new business roadmap also emphasises creating significant employment opportunities and developing a large talent pool in India. The company plans to skill 100,000 students and upskill employees in EV, autonomous, and connected car technologies.

As the automotive landscape continues to evolve, JSW MG Motor India’s strategic partnership signifies a promising future for the Indian automotive industry, driving towards a sustainable and technologically advanced era of mobility.