JSW MG Motor To Boost Make in India, Plugin Hybrid Production & EV Reach in Bharat In order to increase localization of cars under the joint venture, the group is exploring the state of Orissa to set up another manufacturing facility, says Parth Jindal

Almost 50 per cent of the electric vehicles (EVs) four-wheeler market share in December 2024 was captured by MG Motor. "Thanks to Windsor," said Rajeev Chaba, CEO- Emeritus at MG Motor India. The company's EV sales at the beginning of 2024 was at 20 per cent, the launch of Windsor EV in September 2024 rocketed the numbers to a new height. Windsor was the first car under the JSW MG Motor India joint venture (JV).

The growth is not limited to metro cities, it has transcended boundaries and now almost 30 per cent of the company's EV sales come from Tier II, III, IV and beyond, "We could never imagine such response from these pockets," Chaba added.

Rajeev Chaba, CEO- Emeritus at MG Motor India

The CEO Emeritus expects the country's GDP to shoot up to eight to 10 per cent growth, "The automobile industry would also perform better than the calendar year 2024. With new products lined up, our target is to do at least two or three times the industry growth."

MG is a Chinese company and is owned by SAIC Motor, a state-owned automotive manufacturer based in Shanghai, China. At a time when India China trade conflict remains long-standing, on being asked if India would face any technology transfer issues with the brand, Parth Jindal, the director of the JV, explained, "MG is a global brand, it wanted a strong partner who can localize the production in India and that's the intent of the joint venture. We've already started with MG Comet which is 65 per cent localized in India. Windsor will also hit those numbers. I think overall, MG made a very measured decision and had any of the negative issues had a room, they wouldn't have chosen an Indian partner. The brand is here to stay. We believe that its global technology has a space in India and as long as we localize, there will be support from policy makers from both countries."

"SAIC is a global conglomerate with global ambitions, and they want the best local partners in respective countries to be produced in that country as per the policies and direction," Chaba added.

So, would JSW look for more partnerships? "We want to scale this business and the dream is to sell 1 million cars from MG Motors in India and we are working towards that. Not enough is being done on the new energy vehicles. So, whether it's on buses, trucks, JSW has its own ambitions. In terms of external partners, we are not looking at equity partners, but are open to technology partners," Jindal explained.

"We believe we have just scratched the surface in this company. There is a huge opportunity in India today and we are a marginal player in this space. We are not going to ever be satisfied unless we are in the top three of any industry that we're in. Our aim, plan and vision for JSW MG is to come into the top three, while being number one in new energy vehicles. We want to take this business public and do an IPO in three to four years from the time of entry," he added.

JSW MG Motor India has one manufacturing plant in Halol, Gujarat. Jindal pointed out that this one unit won't be enough, "This JV needs to have another manufacturing facility as well. Orissa is definitely one opportunity which we can explore. We need to make investments in many states and as a group, we are always looking at new opportunities in new states."

While ICE vehicles will remain part of the JV to cater to diverse consumer preferences, the focus will lean toward New Energy Vehicles (NEVs). This includes exploring electric vehicles (EVs), hybrids, and plug-in hybrids to meet the growing demand for sustainable, tech-forward mobility solutions. "We will continue to bring new ICE products with energy efficiency. Even though India has a target to make 30 per cent EV penetration by 2030, it means 70 per cent will be ICE. And it's significant and we would be the leader in this as well," Jindal explained.

Well, the ambition doesn't stop here, JSW MG Motor will come up with a plugin hybrid by 2026. "Out of our two to four new launches every three to six months, 50 per cent of those will be EVs and 50 per cent of those will be plugin hybrids. The plug-in hybrid one will also have an ICE version, may also have a pure EV version, but at least half our new launches will be available in plugin hybrids," Jindal added.