MG_Motor_India
JSW MG Motor India
Automotive company
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, which markets vehicles under the British MG marque.[3][4]
| Company type | Joint venture |
|---|---|
| Industry | Automotive |
| Founded | 2017; 7 years ago (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 |
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, in its attempt to support localization, MG Motor India decided to raise capital for funding its expansion in the country by tapping into Indian capital markets and reducing shareholding of parent organization SAIC.[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.[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]
ICE vehicles
Electric vehicles
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- 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.
- 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.
- 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.
- "MG Motor inaugurates first India facility in Gujarat, to roll out first product by 2019". Overdrive. Retrieved 20 July 2019.
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