JSW-MG Motor joint venture to launch 5 cars by 2025
What's the story
JSW Group and MG Motor will launch their first car, a crossover utility vehicle (CUV) named the Cloud EV, this Diwali.
It should be priced under ₹20 lakh. The Indian joint venture will launch five new energy vehicles by 2025.
Rajeev Chaba, CEO Emeritus of the company, stated, "The JV has approved 5 new vehicles. Two premium cars and three mass market cars. They will all be new energy vehicles including electric, mild hybrids and strong plug-in hybrid vehicles."
Expansion plans
Indian JV aims for accelerated growth
The joint venture between JSW Group and MG Motor India is on a fast track to growth, with plans to increase capacity to three lakh units in the next 3-5 years.
"Majority of this capacity is likely to be for electric vehicles," Chaba said.
Reports indicate that both Sajjan Jindal and Parth Jindal, are closely involved with the upcoming launches, focusing on increasing localization and cost efficiency.
Policy suggestions
CEO advocates for policy changes favoring EVs
Chaba emphasized that future policy making must consider tailpipe emissions.
He suggested, "When we compare electric cars to hybrids we should make a clear distinction between mild and strong plug in hybrids. We should not mislead people by offering mild hybrid technology as plug in hybrid electric vehicles."
He also confirmed that the company's focus is on localizing electric vehicle manufacturing in India.
New launches
Upcoming models to include mass-market and premium vehicles
The joint venture plans to launch three mass-market vehicles and two premium cars as part of their new energy vehicle lineup.
Chaba confirmed, "Three of these will be mass-market models while the other two will be premium offerings."
The first mass-market model, a crossover, is expected to launch in the September-October period.
Future lineup
Potential models and updates to existing products
The second mass-market model is likely to be the Bingo hatchback, and the third will be a new D-segment SUV.
While details about the premium offerings remain scarce, possibilities include the MG Cyberster, a two-door electric sportscar showcased in India, and the R7 coupe-SUV.
Alongside these new launches, MG also plans updates to existing products such as the Gloster and Hector.