In November 2023, MG Motor India embarked on a strategic collaboration by entering into a joint venture with the JSW Group. Under this partnership, the JSW Group acquired a significant 35 per cent stake in MG’s Indian operations, with substantial backing from MG’s parent company, SAIC.
The culmination of this partnership was marked by a press conference jointly hosted by MG and JSW, where they unveiled their ambitious plans for the Indian market. Alongside, they introduced a rebranded identity for the brand, christened as JSW MG Motor India. This event also served as a platform for MG to disclose its intentions to scale up production operations.
Presently, JSW MG boasts a production capacity of one lakh units per annum, a figure set to undergo a remarkable threefold increase to reach three lakh units annually. The automaker conducts the manufacturing of its entire vehicle lineup, encompassing the Comet EV, Astor, Hector, ZS EV, and the Gloster, at its solitary manufacturing facility situated in Halol, Gujarat.
Looking ahead, JSW MG has articulated its commitment to maintaining a rapid pace of product development, aiming to introduce new vehicle models at intervals of 3-6 months. This aggressive product expansion strategy will kick off during the upcoming festive season, with a particular emphasis on advancing New Energy Vehicles (NEVs). Anticipated by the year’s end are the launches of two additional vehicle models, with further specifics expected to emerge in the ensuing months.
The partnership between MG Motor India and the JSW Group not only signals a significant step forward in their respective business endeavors but also underscores their shared vision for pioneering advancements within the Indian automotive sector. As they gear up to navigate the evolving landscape of mobility, their collaborative efforts are poised to redefine industry benchmarks and drive sustainable growth in the times ahead.