MG Motor-JSW Future Plans For India REVEALED
The British carmaker MG Motor India recently announced its partnership with JSW Group. From now, the new company will be officially called ‘JSW MG Motor India.’ This new company, along with its new identity, has also revealed its future plans for the Indian automotive market. The newly formed joint venture plans to introduce one new model every three to four months, starting from September 2024.
JSW MG Motor India Future Plans
Sajjan Jindal, Chairman of JSW Group, has commented on the future plans of JSW MG Motor India. He stated, “We want to launch one newly designed car every 3-4 months. The idea is to create a Maruti moment.”
He added, “Starting in September, every three to four months, we will also export them. We will deepen localization, manufacturing them here in India. That’s my passion. With the technology from MG and the group’s strength, we are also building a charging system.”
Electric, Hybrid, and ICE Cars Coming
JSW MG Motor India is betting big on the future of greener vehicles. The company aims to bring plug-in hybrid offerings to its India lineup. Currently, the company offers the ZS EV and Comet EV in its lineup of electric cars.
At its recent event, the company also showcased the all-new Cyberster EV. This new vehicle is a two-door performance model. It has been stated that the upcoming models will be manufactured in India. The company will focus on more localization to ensure competitive pricing.
At the moment, MG Motor India’s current lineup includes the Comet EV, Astor compact SUV, Hector and Hector Plus midsize SUV. It also includes the ZS EV and Gloster full-size SUV.
MG Aims to Capture Bigger Market Share
Apart from the launch frequency, Sajjan Jindal also highlighted bigger goals of the company. He stated that they aim to capture 33% of the market share of the NEV (New Energy Vehicle) segment by 2030.
Parth Jindal, Managing Director of JSW Cement, added that they are also aiming to sell one million passenger EVs. This goal has been set for the year 2030. He added that the company has had a good five years since its debut. And now with the joint venture, MG will become even more impactful and successful.
Increased Production
During the event, it has also been stated that the company is looking to increase its production in Halol, Gujarat. They will mainly increase the production of NEVs.
Currently, the plant produces 100,000 units. However, after its investments, they are aiming for a production capacity of 300,000 units. MG Motor India Chairman Rajeev Chaba also added that JSW MG Motor India is planning to invest Rs 5,000 crore to increase the production capacity.
MG 4 Unveiled
The company, along with the MG Cyberster, also unveiled the new MG 4 EV crossover. In the international markets, the MG 4 EV is offered with two battery pack options. The first is a 51kWh, and the second is a 64kWh.
The 51kWh variant offers a maximum power of 170PS and 250Nm. On the other hand, the 64kWh variant offers 203PS of power and 250Nm of torque. The EV offers a range of 450 km.
The post MG Motor-JSW Future Plans For India REVEALED first appeared on Cartoq.
The British carmaker MG Motor India recently announced its partnership with JSW Group. From now, the new company will be officially called ‘JSW MG Motor India.’ This new company, along with its new identity, has also revealed its future plans for the Indian automotive market. The newly formed joint venture plans to introduce one new model every three to four months, starting from September 2024.
JSW MG Motor India Future Plans
Sajjan Jindal, Chairman of JSW Group, has commented on the future plans of JSW MG Motor India. He stated, “We want to launch one newly designed car every 3-4 months. The idea is to create a Maruti moment.”
He added, “Starting in September, every three to four months, we will also export them. We will deepen localization, manufacturing them here in India. That’s my passion. With the technology from MG and the group’s strength, we are also building a charging system.”
Electric, Hybrid, and ICE Cars Coming
JSW MG Motor India is betting big on the future of greener vehicles. The company aims to bring plug-in hybrid offerings to its India lineup. Currently, the company offers the ZS EV and Comet EV in its lineup of electric cars.
At its recent event, the company also showcased the all-new Cyberster EV. This new vehicle is a two-door performance model. It has been stated that the upcoming models will be manufactured in India. The company will focus on more localization to ensure competitive pricing.
At the moment, MG Motor India’s current lineup includes the Comet EV, Astor compact SUV, Hector and Hector Plus midsize SUV. It also includes the ZS EV and Gloster full-size SUV.
MG Aims to Capture Bigger Market Share
Apart from the launch frequency, Sajjan Jindal also highlighted bigger goals of the company. He stated that they aim to capture 33% of the market share of the NEV (New Energy Vehicle) segment by 2030.
Parth Jindal, Managing Director of JSW Cement, added that they are also aiming to sell one million passenger EVs. This goal has been set for the year 2030. He added that the company has had a good five years since its debut. And now with the joint venture, MG will become even more impactful and successful.
Increased Production
During the event, it has also been stated that the company is looking to increase its production in Halol, Gujarat. They will mainly increase the production of NEVs.
Currently, the plant produces 100,000 units. However, after its investments, they are aiming for a production capacity of 300,000 units. MG Motor India Chairman Rajeev Chaba also added that JSW MG Motor India is planning to invest Rs 5,000 crore to increase the production capacity.
MG 4 Unveiled
The company, along with the MG Cyberster, also unveiled the new MG 4 EV crossover. In the international markets, the MG 4 EV is offered with two battery pack options. The first is a 51kWh, and the second is a 64kWh.
The 51kWh variant offers a maximum power of 170PS and 250Nm. On the other hand, the 64kWh variant offers 203PS of power and 250Nm of torque. The EV offers a range of 450 km.
The post MG Motor-JSW Future Plans For India REVEALED first appeared on Cartoq.
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