New Energy Vehicles to launch every 3-4 months, JSW-MG Motor Unveils the Plan

New Energy Vehicles to launch every 3-4 months, JSW-MG Motor Unveils the Plan

A new car joint endeavour of the JSW Group and MG Motor India will present 'New energy' vehicle each three to four months starting September, a top chief expressed, carrying out top-end "vehicles that India has not seen".

The JV partners have consented to contribute $750 million (about 5,000 crore) to deliver 300,000 units per year, make more parts locally, and get innovation for new products. The JV will sell vehicles under the MG brand name, said Rajeev Chaba, executive emeritus, MG Engine India.

Similarly, Sajjan Jindal, JSW chairman says, “We will bring one newly designed new energy vehicle every three-four months from September onwards. These will be state-of-the-art cars that India has not seen. We will also export them to the most advanced international markets. That’s my dream and we’re working on that.”

Parth Jindal, Managing director of JSW Cement says, “We have to study the policy fineprint. It looks very attractive for the premium segment, but because we have other applications in place—some have already been applied to by MG Motors, and JSW has applied for (the government’s production-linked incentive scheme) on the battery side. So we’ll have to see if those get impacted at all by the new policy,”

The joint endeavour gives MG Motor, a London-settled organization possessed by Chinese state-claimed automaker SAIC Engine, a much necessary capability to grow in the country.

 The JSW-MG Motor India JV appraises India's passenger vehicle market to arrive at 10 million units by 2030 with EV integration following a similar way as it did in China. India's EV entrance at present stands at 2 percent of all passenger vehicle deals, though in China, 32 percent of all vehicles sold last year were EVs or hybrids.