JSW MG Motor India, previously known as MG Motor India Pvt Ltd until 2024, is preparing for a significant expansion in the market with the launch of several new vehicles. Over the next year, the company aims to introduce five to six new models, including three plug-in hybrid electric vehicles (PHEVs) and two battery electric vehicles (BEVs). Sources familiar with the company’s plans revealed that these launches mark a major product push since the JSW Group, led by billionaire Sajjan Jindal, became a partner.
The upcoming launches include a new electric vehicle (EV) model expected in October this year, followed by two more models (one EV and one internal combustion engine) in January 2025, and a premium EV launch in March 2025. Additionally, a model offering three variants—ICEV, Hybrid, and EV—is slated for September this year, with prices expected to range up to Rs 35 lakh (ex-showroom).
Among the new releases, the lineup will feature the Astor priced between Rs 10-19 lakh, a PHEV version of the Hector at around Rs 25 lakh, and an EV version also priced at Rs 25 lakh. The Gloster PHEV, priced at Rs 50 lakh, and the Bingo electric hatch at Rs 10 lakh are also part of the upcoming offerings.
Further plans include the debut of the Yunduo electric hatchback, to be renamed Cloud EV, in March next year at Rs 20 lakh, with a potential PHEV variant priced between Rs 20-25 lakh. Notably, previously showcased products like Equinox 7, MG3, and 4EV are not currently scheduled for production.
JSW MG Motor India, established in 2019 as a joint venture between Mumbai-based JSW Group and Shanghai-based SAIC Motor, markets vehicles under the British MG marque. The company presently offers six models in India, ranging in price from Rs 6.98 lakh to Rs 43.86 lakh, including popular models like Hector, Astor, Gloster, Comet EV, and ZS EV.
In March this year, JSW Group and SAIC Motor-owned MG Motor India signed a joint venture agreement to manufacture electric and hybrid vehicles for the Indian market. Currently, JSW Group holds a 35 percent stake in the JV, while SAIC and private equity fund Everstone Capital collectively hold the remaining stake. JSW Group is also investing Rs 40,000 crore to establish an integrated EV facility in Odisha.
Regarding the upcoming launches, Puneet Gupta, director at S&P Global Mobility, commented, “MG JSW’s diverse lineup with PHEV options is expected to make a significant impact in the market, especially given the practicality of PHEVs amidst current charging infrastructure limitations. With these new offerings and strategic investments, MG is well-positioned to compete effectively against its rivals.”
