MG Motor India, JSW Group Announce Partnership

MG Motor India and Jindal South-West (JSW) Group have announced a new collaboration, with the latter acquiring 35 per cent of MG’s Indian operations. The company will now be called JSW MG Motor India and will invest ₹5,000 crore in the first phase of investments. This move underlines a strategic alignment aimed at bolstering local sourcing, enhancing charging infrastructure, expanding production capabilities, and diversifying the vehicle lineup, with a strong focus on sustainable mobility solutions. 

SAIC Motor will continue to support the JSW-MG partnership, ensuring a seamless integration of technology and product offerings. This collaborative effort will bring about advancements in both electric and internal combustion engine vehicles, catering to evolving consumer preferences and regulatory requirements.

Parth Jindal, Managing Director, JSW Cement, says, "Over the next 10 years, we are very sure that India is going to move from a four million passenger vehicle market to a 10 million passenger vehicle market.” He added, “It is our aim to have 33 per cent of the market of the new energy vehicle segment by 2030. That means we want to sell 1 million electric vehicles by 2030, apart from all the other products we will sell.” 

JSW MG Motor India will launch a new car every 3-4 months, starting from September 2024, and will also include new energy vehicles (i.e. EVs and hybrids). All the upcoming vehicles will be manufactured in India and will also be exported. Furthermore, JSW Energy will create a charging infrastructure in collaboration with multiple startups catering to charging infrastructure. Sajjan Jindal, Chairman and Managing Director, JSW Group, said, “My dream is that we will create a Maruti movement. Like 40 years ago, in 1984, when Maruti Suzuki came to India, it changed the auto industry.” 

Furthermore, JSW MG Motor India will also be starting a premium channel for its premium vehicles. More details will be announced at a later date. At the joint venture announcement, JSW MG Motor India also showcased the Cyberster electric sportscar.