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MG-JSW Partnership Formally Announced - Cyberster Electric Sportscar Showcased
Chinese-owned British carmaker MG Motor today formally announced its partnership with the Indian conglomerate JSW Group. MG also showcased the Cyberster electric sports car at the event.
The new joint venture - JSW MG Motor India Private Limited - is expected to launch its first new car in the Dusshera-Diwali festive season of this year and will focus on new energy vehicles (NEVs). The new JSW-MG joint venture aims to bring out new vehicles, including NEVs, every three to six months.
The joint venture between JSW and the SAIC-owned MG Motor India was recently approved by the Competition Commission of India which allowed the Indian conglomerate to pick up to a 38 per cent stake in MG Motor India.
As per the agreement signed between the two companies, JSW MG Motor India will expand its production capabilities at its Halol facility from 100,000 vehicles a year to 300,000 vehicles a year. The focus will be on new energy vehicles, which will be produced not just for India but will also be exported from our shores.
Speaking about the JV, Rajeev Chaba, CEO Emeritus of MG Motor India, said, "In JSW Group, we have found an ideal local partner to continue the growth story of the MG brand in India. In less than five years, Team MG India has established a rock-solid foundation - a testament to our commitment to innovation, diversity, community service and robust customer care. Today, we are among the fastest-growing OEMs in the country. This foundation empowers us to embark on a new chapter, MG 2.0, and the joint venture marks a pivotal step in this journey. We will offer a range of vehicles from ICE to NEVs, staying focused on building a robust and sustainable EV ecosystem in India. We are firmly committed to expanding our manufacturing footprint with extensive
localization by leveraging JSW Group's extensive knowledge and expertise in manufacturing at scale."
Parth Tindal, Member of the Steering Committee of JSW MG Motor India stated, "The JSW MG Motor India joint venture is a momentous joint venture. It is the coming together of two giants in SAIC and J.S.W. By leveraging the legacy of a world renowned British brand, cutting edge MG technology and JSW's local manufacturing knowledge and acumen, I have no doubt that JSW MG will make world leading products in India for India and the world. It is our goal to be the leading auto OEM in the NEV segment in India and we will be working tirelessly to bring the best available technology into India so that we can give the Indian consumer what they truly want which is world class cars at affordable prices. MG India 1.0 has had a very good 5 years and it is now up to the joint venture to make MG 2.0 even more impactful and successful. We are grateful that SAIC chose to partner with us and can't wait to get going."
JSW MG Motor India also announced the setting up of an R&D centre in India that will develop connected, new-age and local mobility solutions for MG India's customers.
The JSW MG Motor India joint venture also showcased the MG Cyberster electric sports car at the event. The Cyberster was first revealed as a concept in 2021 and made its official debut as a production-ready car at the 2023 Goodwood Festival of Speed.
Available in both single-motor, rear-wheel drive and dual-motor all-wheel-drive configurations, the Cyberster is MG's first electric sportscar. In RWD form, the Cyberster produces 304bhp and delivers a claimed range of 520km on the CLTC cycle from its 64kWh battery.
The all-wheel drive variant pushes out 528bhp and 725Nm of peak torque and can go from 0-100km/h in a claimed 3.2 seconds. It also features a larger 77kWh battery pack that delivers a claimed range of 580km as per the CLTC cycle.
Thoughts About JSW MG Motor India
The new joint venture between JSW and MG Motor will see the British carmaker expand its operations in India with a focus on new energy vehicles including those from the premium segment for the first time.
The MG Cyberster could very well be the first product of this new JV and if that is the case sure will be a proper headline grabber for sure.
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