SAIC Motor, a global Fortune 500 company with annual revenues of around US$ 110 billion and a presence in over 100 countries and the US$ 23 billion JSW Group, (India’s leading conglomerate with interests across B2B and B2C sectors) have announced the business roadmap for their new strategic Joint Venture – JSW MG Motor India Pvt. Ltd. (JSW MG Motor India), ushering in a new era of mobility in the country. The new joint venture will capitalise on the significant opportunities emerging in the fast-evolving Indian automotive sector.
JSW MG Motor India is committed to bringing in the best of innovation across its business operations, introducing world-class technology, strengthening the manufacturing landscape, generating significant employment opportunities and offering smart and sustainable products focused on customer-centricity. The business roadmap for the company focuses on extensive localisation and development of a robust automotive ecosystem across the country.
The joint venture’s potential resides in the fusion of SAIC Motor’s automotive experience and technical expertise with JSW Group’s extensive knowledge and expertise in manufacturing at scale in India. JSW MG Motor India will also leverage synergies across JSW Group’s ecosystem. It aims 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 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. 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. 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 localization by leveraging JSW Group’s extensive knowledge and expertise in manufacturing at scale.”
