SAIC Motor, a global Fortune 500 company with annual revenues of around US$ 110 billion and a presence in over 100 countries and the US$ 23 billion JSW Group, (India’s leading conglomerate with interests across B2B and B2C sectors) have announced the business roadmap for their new strategic Joint Venture – JSW MG Motor India Pvt. Ltd. (JSW MG Motor India), ushering in a new era of mobility in the country. The new joint venture will capitalise on the significant opportunities emerging in the fast-evolving Indian automotive sector.
The company plans to increase its production capacity in Halol, Gujarat, primarily focusing on NEVs, from 1,00,000 to 3,00,000 vehicles annually. JSW MG Motor India is focusing on innovation, technology, manufacturing, employment, and customer-centric products. The joint venture combines SAIC Motor’s automotive experience with JSW Group’s manufacturing expertise in India. The company aims to leverage synergies across JSW Group’s ecosystem and introduce advanced technologies and new-age mobility solutions.
The business roadmap includes extensive localization and development of a robust automotive ecosystem. The joint venture focuses on accelerating EV adoption, aiming to lead in the NEV category by 2030. It uses over 60% of its energy from renewable resources for manufacturing in Halol, Gujarat, and aims to become carbon neutral by 2029. According to Parth Jindal, Member of Steering Committee of JSW MG Motor India, “We are grateful that SAIC chose to partner with us and can’t wait to get going.”
