18:15 16-02-2026
JSW MG Motor invests $440M to expand EV production in India
SAIC and JSW Group invest $440M to expand JSW MG Motor's plant, aiming for 300,000 vehicles annually and focusing on NEVs like hybrids and EVs for growth.
SAIC Motor and India's JSW Group are accelerating their joint venture, JSW MG Motor, with plans to invest up to $440 million in expanding the plant and launching several new models this year. The factory's annual production capacity will increase from the current 120,000 to 300,000 vehicles.
Despite rising sales—70,500 units in 2025—the company remains unprofitable, posting a loss of $121 million last year. The focus is now on NEVs, with hybrids and electric vehicles expected to account for at least 75% of volume. The Windsor EV, which has already strengthened MG's position in India, will lead this push.
Political restrictions complicate the situation: since 2020, New Delhi has imposed strict limits on Chinese investments, hindering the expansion of SAIC and BYD. However, there are positive developments, such as improved visa procedures and increased flight frequencies, which management says reduce risks for the joint project.
The company aims to boost profitability through deeper localization, shifting to Indian suppliers to cut currency costs and reliance on maritime logistics. In the long run, this could become a key competitive factor for MG in a market where NEV share may reach 30% by 2030.
The first three to four new models, including hybrids, will arrive in 2026, with MG hoping to reignite growth and gradually move into profitability.