SAIC Motor, a Fortune 500 company with annual revenues of approximately $110 billion, operates in over 100 countries and JSW Group, India’s leading conglomerate, have announced the business roadmap for their new strategic Joint Venture, JSW MG Motor India Pvt. Ltd., aiming to revolutionize mobility in the country by introducing a new era of mobility. The joint venture aims to generate revenue in over 100 countries.
JSW MG Motor India is focusing on innovation, technology, manufacturing, employment, and customer-centric products. The joint venture combines SAIC Motor’s automotive experience with JSW Group’s manufacturing expertise in India. The company aims to leverage synergies across JSW Group’s ecosystem and introduce advanced technologies and new-age mobility solutions. The business roadmap includes extensive localization and development of a robust automotive ecosystem. According to Parth Jindal, Member of Steering Committee of JSW MG Motor India, “We are grateful that SAIC chose to partner with us and can’t wait to get going.”
The company will expand its production capacity in Halol, Gujarat, with a focus on producing NEVs. This will significantly increase the production capacity from the current 1,00,000 plus to up to 3,00,000 vehicles annually. The joint venture focuses on accelerating EV adoption, aiming to lead in the NEV category by 2030. It uses over 60% of its energy from renewable resources for manufacturing in Halol, Gujarat, and aims to become carbon neutral by 2029.
