The collaboration talks between MG Motors and JSW have been in development for quite a while now. Today, it's official. SAIC Motor has led the foundation of a new strategic business roadmap with the new joint venture—JSW MG Motor India Pvt. Ltd. The JV is set to mark a new era for MG Motors, with a commitment to launch new products every 3-4 month from the end of this year. The business roadmap for the JV revolves around heavy localization and innovation in new-age technologies.
The JV would help to increase the production capacity from the current 1 lakh units to 3 lakh units annually. The brand is also optimistic about the premium passenger vehicle channel. Today, they have also showcased a two-door electric sports car, the Cyberster. All these developments will have a significant impact in terms of employment and revenue growth in general. The Indian economy is growing at a rapid phase, and the automobile industry is in its transitory stage, so the news comes as a celebratory belief for the Indian market.
The company will expand its production capacity in Halol, Gujrat, focusing on producing NEVs. The company currently utilizes over 60 percent of its energy requirements for its manufacturing operations from renewable resources and is working towards becoming carbon neutral by 2029.
