Company type | Joint venture |
---|---|
Industry | Automotive |
Founded | 2017 |
Headquarters | , India |
Area served | India |
Key people | Rajeev Chaba (President & MD) [1] |
Products | Automobiles |
Brands | MG Motor |
Owner | JSW Group SAIC Motor |
Number of employees | 3,000+ (2023) [2] |
Website | www |
JSW MG Motor India Pvt Ltd, previously MG Motor India Private Limited until 2024, is an automobile manufacturer in India, which was established in 2019. Since 2023, it is a joint venture between the Mumbai-based Indian multinational conglomerate JSW Group and Shanghai-based Chinese automotive manufacturer SAIC Motor, a Chinese state owned automobile manufacturer which markets vehicles under the British MG marque. [3] [4]
The whole subsidiary was setup in the year 2017 by SAIC Motor and began its sales and manufacturing operations in 2019 from an old General Motors facility in Halol, Gujarat. [5] The company was intended to allocate $650 million for investment, however the Government of India aimed to restrict funding from Beijing following a conflict in 2020 between troops of both nations along their disputed Himalayan boundary. [6]
In May 2023, due to interventionist market policy by the Indian government, SAIC was forced to reduce shareholding in the venture. [7] [8] By November 2023, the company entered into a strategic joint venture with JSW Group, which allowed latter to acquire 35% in the company. Further, IndoEdge India Fund bought an 8% stake, while a dealer trust as well as an employee stock ownership plan, acquired 3% and 5% stakes, respectively, leaving SAIC with just 49% stake. [9]
JSW MG Motor India operates one manufacturing plant in the country, located in Halol, Gujarat. The plant has a capacity of 80,000 units per year and was previously owned by General Motors India, which halted its sales operations in India at the end of 2017. [10] MG Motor India has invested more than ₹ 2,000 crore in revamping the 178 acre facility after its takeover from General Motors. [10]
Model | Indian introduction | Current model | Notes | ||
---|---|---|---|---|---|
Introduction | Update (facelift) | ||||
SUV/crossover | |||||
Astor | 2021 | 2021 | — | ||
Hector | 2019 | 2019 | 2023 | Rebadged from Baojun 530 | |
Hector Plus | 2020 | 2020 | 2023 | 7-seater variant of a rebadged Baojun 530 | |
Gloster | 2020 | 2020 | — | Rebadged from Maxus D90 | |
Model | Indian introduction | Current model | Notes | ||
---|---|---|---|---|---|
Introduction | Update (facelift) | ||||
Hatchback | |||||
Comet EV | 2023 | 2023 | — | Rebadged from Wuling Air EV | |
Windsor EV | 2024 | 2024 | — | Rebadged from Baojun Yunduo | |
SUV/crossover | |||||
ZS EV | 2020 | 2020 | 2022 |
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