JSW MG Motor India
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| 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]
History
[edit]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]
Operations
[edit]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
[edit]ICE vehicles
[edit]| Model | Indian introduction | Current model | Notes | ||
|---|---|---|---|---|---|
| Introduction | Update (facelift) | ||||
| SUV/crossover | |||||
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|
Astor | 2021 | 2021 | — | |
_front_view.png)
|
Hector | 2019 | 2019 | 2023 | Rebadged from Baojun 530 |
_front_view_(1).png)
|
Hector Plus | 2020 | 2020 | 2023 | 7-seater variant of a rebadged Baojun 530 |
_front_view.png)
|
Gloster | 2020 | 2020 | — | Rebadged from Maxus D90 |
Electric vehicles
[edit]| Model | Indian introduction | Current model | Notes | ||
|---|---|---|---|---|---|
| Introduction | Update (facelift) | ||||
| Hatchback | |||||
.png)
|
Comet EV | 2023 | 2023 | — | Rebadged from Wuling Air EV |
|
Windsor EV | 2024 | 2024 | — | Rebadged from Baojun Yunduo |
| SUV/crossover | |||||
|
ZS EV | 2020 | 2020 | 2022 | |
See also
[edit]
References
[edit]- ^ 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.
- ^ "MG Motor India Commences Production of Hector SUV From Gujarat Plant". News 18. 6 May 2019.
- ^ Bureau, The Hindu (30 November 2023). "Will create greener, smarter mobility products for India, says SAIC Motor's Wang Xiaoqiu". The Hindu. ISSN 0971-751X. Retrieved 1 December 2023.
{{cite news}}:|last=has generic name (help) - ^ 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.
- ^ "MG Motor India acquires Halol plant from GM, plans full revamp". Autocar Professional. Retrieved 1 December 2023.
- ^ "JSW to take stake in MG Motor India as China's SAIC dilutes holdings". Nikkei Asia. Retrieved 1 December 2023.
- ^ "China's SAIC to dilute stake in MG Motor India, drive EV sales". Reuters. 10 May 2023. Retrieved 1 December 2023.
- ^ 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.
- ^ Wadhwa, Nilesh (30 November 2023). "JSW Group partners SAIC Motor to acquire 35% stake in MG Motor India". Financialexpress. Retrieved 1 December 2023.
- ^ a b "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.
External links
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- MG Motor
- Vehicle manufacturing companies established in 2017
- Manufacturing companies based in Gurgaon
- Indian subsidiaries of foreign companies
- SAIC Motor
- SAIC Motor divisions and subsidiaries
- SAIC Motor joint ventures
- Car manufacturers of India
- 2017 establishments in Haryana
- JSW Group
- Motor vehicle company stubs