JSW MG Motor India

Last updated

JSW MG Motor India Pvt Ltd
Company type Joint venture
Industry Automotive
Founded2017;8 years ago (2017)
Headquarters
Gurugram, Haryana
,
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.mgmotor.co.in

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]

Contents

History

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 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]

Operations

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]

Models

Current models

ICE vehicles

ModelIndian introductionCurrent modelNotes
IntroductionUpdate (facelift)
SUV/crossover
2021 MG Astor Sharp 220 Turbo (India) front view.png Astor 20212021—
MG(Morris Garages) Hector SUV in Jamshedpur, Jharkhand, India (Ank Kumar, Infosys Limited)) 02.jpg Hector 201920192023Rebadged from Baojun 530
MG Hector Plus (India) front view (2).png Hector Plus 2020202020237-seater variant of a rebadged Baojun 530
2020 MG Gloster 2.0 Savvy (India) front view.png Gloster 20202020—Rebadged from Maxus D90
Majestor 20252025—Rebadged from Maxus Territory

Electric vehicles

ModelIndian introductionCurrent modelNotes
IntroductionUpdate (facelift)
Hatchback
2023 MG Comet EV Plush (India).png Comet EV 20232023—Rebadged from Wuling Air EV
Baojun Yunduo 004.jpg Windsor EV 20242024—Rebadged from Baojun Yunduo
Convertible
2024 MG Cyberster.jpg Cyberster 20252025—Imported from China
SUV/crossover
MG ZS EV IMG 5512.jpg ZS EV 202020202022
MPV
2023 MG Maxus 9 V.jpg M9 20252025—Rebadged from Maxus G90
Imported from China

See also

References

  1. ↑ Modi, Ajay (20 March 2018). "We believe in slow but sure growth in India: MG Motor India's Rajeev Chaba". Business Standard . Retrieved 12 March 2023.
  2. ↑ "MG Motor India Commences Production of Hector SUV From Gujarat Plant". News 18. 6 May 2019.
  3. ↑ "Will create greener, smarter mobility products for India, says SAIC Motor's Wang Xiaoqiu". The Hindu. 30 November 2023. ISSN   0971-751X . Retrieved 1 December 2023.
  4. ↑ Mohile, Shally (20 March 2024). "We will create a Maruti moment with MG: Sajjan Jindal". The Economic Times. ISSN   0013-0389 . Retrieved 20 March 2024.
  5. ↑ "MG Motor India acquires Halol plant from GM, plans full revamp". Autocar Professional. Retrieved 1 December 2023.
  6. ↑ "JSW to take stake in MG Motor India as China's SAIC dilutes holdings". Nikkei Asia. Retrieved 1 December 2023.
  7. ↑ "China's SAIC to dilute stake in MG Motor India, drive EV sales". Reuters. 10 May 2023. Retrieved 1 December 2023.
  8. ↑ Wadhwa, Nilesh (11 May 2023). "MG Motor India's expansion strategy: Expert sees need to sync long-term commitment of potential stake buyers". Financialexpress. Retrieved 1 December 2023.
  9. ↑ Wadhwa, Nilesh (30 November 2023). "JSW Group partners SAIC Motor to acquire 35% stake in MG Motor India". Financialexpress. Retrieved 1 December 2023.
  10. 1 2 "MG Motor inaugurates first India facility in Gujarat, to roll out first product by 2019". Overdrive. Archived from the original on 20 July 2019. Retrieved 20 July 2019.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.