JSW MG Motor’s Electric Charge: 5 New Vehicles in 15 Months

JSW Group and MG Motor are set to ignite the Indian automotive market with the launch of their first joint venture product – a crossover utility vehicle (CUV) – this Diwali. This marks a significant milestone for the partnership, which has been eagerly anticipated since its inception.

The upcoming CUV will be a fully electric vehicle, designed to captivate Indian consumers with its spacious interiors, impressive ground clearance, and advanced connected car features. The model, already making waves in global markets as the Cloud EV, is expected to be priced competitively under ₹20 lakh in India.

But the electric offensive doesn’t end there. JSW MG Motor India has ambitious plans to introduce a total of five new energy vehicles within the next 15 months. This expansive portfolio will encompass two premium cars and three mass-market models, spanning electric, mild hybrid, and strong plug-in hybrid technologies.

The company’s leadership, including industry veterans Sajjan Jindal and Parth Jindal, is actively involved in driving the product roadmap and optimizing operations for increased localization and cost efficiency. With a target of ramping up production capacity to 3 lakh units in the next 3-5 years, the majority of which will be dedicated to electric vehicles, JSW MG Motor is poised for rapid growth.

Rajeev Chaba, CEO Emeritus of the company, emphasized the importance of considering tailpipe emissions in future policymaking. He advocated for clear distinctions between mild and strong plug-in hybrids, urging the government to implement a tiered tax structure based on emissions levels, with the lowest rates applied to electric vehicles, followed by strong plug-in hybrids, mild hybrids, and biofuels.

The joint venture is also actively pursuing the Production Linked Incentive (PLI) scheme to boost localization efforts. While the company previously qualified for the scheme, approvals were delayed due to its previous ownership structure. With the recent change in ownership, resulting in a 51% stake for Indian shareholders, JSW MG Motor is optimistic about securing PLI approval soon.

Despite considering the new electric car manufacturing policy for potential duty concessions, the company’s primary focus remains on establishing a robust electric vehicle manufacturing ecosystem within India. The growing demand for electric cars is evident in the company’s sales figures, with a 34% increase already recorded and an ambitious target of over 50% electric vehicle sales in FY25.

As JSW MG Motor accelerates its electrification journey, the Indian automotive landscape is set to undergo a transformative shift. With a strong product pipeline, a commitment to localization, and a clear vision for the future, the company is well-positioned to capture a significant share of the burgeoning electric vehicle market.