JSW MG Motor inaugurates MG Select showroom, monitors rare earth supply amid EV expansion
India, a joint venture between India's JSW Group and China's SAIC Motor, inaugurated its first premium showroom '
MG Select
' in Thane on Wednesday, PTI reports. The company also announced plans to set up 14 such outlets across 13 key cities by the end of Q3 CY2025, targeting new-age consumers with innovation-led, sustainable mobility solutions.
At the Thane showroom, the company showcased two upcoming premium
electric vehicles
– the MG Cyberster and MG M9 (Presidential Limousine) – ahead of their official price reveal later this month. These models are aimed at redefining 'affordable luxury' and will headline JSW MG's premium portfolio.
Rising rare earth material concerns
Meanwhile, addressing media on the sidelines of the launch, JSW MG Motor India Managing Director
Anurag Mehrotra
acknowledged growing global concerns around the restricted supply of rare earth magnets, essential for motors used in both electric and internal combustion engine (ICE) vehicles.
'It is a serious issue and impacts all OEMs—not just EVs but ICE vehicles as well. We, as an industry body, are working closely with the government to seek resolutions,' Mehrotra said.
He clarified that the company's current production remains unaffected due to a lead-time buffer of 3–4 months. 'But we have to watch the situation very carefully,' he noted, emphasising that the orders placed in April are only now arriving, and any prolonged disruption could pose challenges later in the year.
Despite partial Chinese ownership, Mehrotra stressed that JSW MG does not receive preferential access to critical components like rare earth magnets.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
40 minutes ago
- Time of India
With new 40% tariff on transshipments, Trump takes aim at US dependence on China's factories
Ever since President Trump began raising tariffs on goods from China during his first term, Chinese companies have raced to set up warehouses and factories in Southeast Asia, Mexico and elsewhere to bypass US tariffs with indirect shipments to the American market via other countries. But on Thursday, Trump took aim at all indirect American imports, which he blames for part of the $1.2 trillion US trade deficit. Trump imposed 40% tariffs on so-called transshipments, which will take effect in a week. And a senior administration official who briefed reporters said work was under way that could broaden considerably the definition of indirect shipments. The new rules cover indirect shipments from anywhere, not just China. But China, with its massive factory infrastructure and expansive manufacturing ambition, has been the main country to develop a global network for such shipments. Trade experts were quick to predict that China would be the most affected - and the most executive order Thursday created a new category of imports: goods that are transshipped through other countries instead of coming straight from the country of origin. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like They Were So Beautiful Before; Now Look At Them; Number 10 Will Shock You Reportingly Undo The 40% tariffs on these goods will be on top of whatever tariffs would have applied if the goods had come directly from the country where they were originally made. The legal definition of transshipment is narrow: a good that did not undergo a "substantial transformation" in the country through which it was indirectly shipped. Countries in Southeast Asia have long denied that they allow a lot of transshipment. They contend that their soaring imports of Chinese components are being assembled into new and different products that can appropriately be labelled made in their countries, and not labelled "made in China. " Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Mint
3 hours ago
- Mint
Soy futures post weekly loss on expectations for big US crop
CHICAGO, - Chicago Board of Trade soybean futures finished flat on Friday but notched a second consecutive weekly decline as ample global supplies, favorable U.S. weather and weak Chinese demand hung over the market. U.S. farmers were expected to harvest bumper soybean and corn crops this autumn following non-threatening weather conditions. At the same time, they worried that President Donald Trump's latest wave of tariffs may hurt American farm exports at a time when soy and wheat sales have struggled. The United States faces stiff competition for global soy sales from Brazil, the world's biggest exporter of the oilseed. "Expectations of a robust U.S. harvest, alongside a second consecutive record Brazilian crop, are expected to weigh on prices for the remainder of the year," analysts at BMI, a unit of Fitch Solutions, said in a note. CBOT November soybeans ended unchanged at $9.89-1/4 a bushel after falling earlier to the lowest level since April 9. The contract lost about 3.1% for the week. China, the world's biggest soy buyer, faces an August 12 deadline to reach a durable tariff agreement with Trump's administration. The United States believes it has the makings of a trade deal, but it is "not 100% done," Treasury Secretary Scott Bessent said on Thursday. A Chinese buyer signed a deal this week to import 30,000 metric tons of Argentine soymeal, as feed producers move to lock in cheaper supplies from South America, two trade sources said. In CBOT wheat, September futures ended down 6-1/2 cents at $5.16-3/4 per bushel. The contract set a low of $5.16-1/4 a bushel earlier in the session and tumbled 4% for the week as in the Northern Hemisphere brought in new supplies. CBOT corn also slumped, with the December contract closing 3 cents lower at $4.10-3/4 a bushel. It lost about 2% for the week. Export sales of corn have been brisk as buyers take advantage of low prices. The U.S. Department of Agriculture reported exporters sold a total of 352,160 metric tons of U.S. corn to unknown destinations via its daily reporting system. This article was generated from an automated news agency feed without modifications to text.
NDTV
5 hours ago
- NDTV
ICYMI: 10 Recent Travel Updates Indian Travellers Should Know About
Planning your next international getaway or looking forward to festive travel within India? There's been a lot happening in the world of travel recently that you need to know about. They include visa changes, passport-related news, unique tourism initiatives, global rankings and much more. All of these can affect your plans and future trips in different ways. The good news is that most of them can prove to be beneficial. Here's a quick round-up of a few important recent updates Indian travellers should be aware of: 1. Indian Passport's Global Ranking Improved The Indian passport just made its biggest jump in years, moving up to the 77th position in the Henley Passport Index. Indian citizens can now travel to 59 countries either without a visa or by getting one on arrival. While it's still far from the world's most powerful passports, it is nevertheless a win for Indian travellers for several reasons. A stronger passport brings multifold benefits. Explore the lists of visa-free countries to know more. 2. GCC Visa Will Let You Visit 6 Gulf Nations With One Visa Planning a trip to the Middle East? Keep an eye out for a soon-to-be-launched Schengen-style visa for this region. A new GCC Grand Tours Visa will allow travellers to explore six Gulf countries (UAE, Saudi Arabia, Qatar, Bahrain, Oman, and Kuwait) using just one visa. Expected to launch by the end of 2025 or early 2026, the GCC Visa promises to make regional travel across the Gulf cheaper and easier for tourists. 3. India Reopened Tourist E-Visas For Chinese Citizens After a five-year break, India has officially restarted tourist e-visa services for Chinese nationals. This decision came into effect in July 2025. It is expected to bring more Chinese tourists, business travellers, and cultural visitors to India. The move is seen as a step towards improving bilateral ties and boosting tourism exchanges between the two countries. 4. Germany's Freelance Visa Could Benefit Independent Workers If you're a freelancer, consultant, or artist looking to live and work abroad, Germany's Freelance Visa might be worth exploring. It's designed for professionals who don't need a full-time employer. This visa allows you to live in Germany while working on independent projects. It is valid for up to one year and can be extended. It seems to be a practical route for creative or remote workers from India to try working in Europe. 5. Jaipur Ranked Among The World's Best Cities In a proud moment for India, Jaipur has been named one of the top 5 cities in the world by Travel + Leisure magazine. The city was praised for its vibrant markets, historic palaces, rich cultural heritage, and the warm hospitality of its people. This accolade puts Jaipur on the global map as a city that offers an unforgettable travel experience. 6. Abu Dhabi Named The Safest City In The World Again For the ninth year in a row, Abu Dhabi has been ranked the world's safest city, according to Numbeo's 2025 Safety Index. It scored high for low crime rates and effective public safety systems. For Indian travellers planning trips to the UAE, this is reassuring news. On a national level, Ahmedabad was named the safest city in India. 7. India's First Car Ferry Train To Run Between Mumbai And Goa In a first for India, a car-carrying train is set to start operations between Mumbai and Goa during Ganesh Chaturthi 2025. Travellers will be able to load their cars onto a freight coach and then board the same train, making it easier to drive around once they reach Goa. This option could be especially useful for those heading home or on vacation during the festive season. 8. Special Trains Announced for Ganesh Chaturthi Festival Rush The Indian Railways has announced 262 special trains in order to handle the heavier-than-usual travel demand during Ganesh Chaturthi 2025. These trains will run between major cities and the Konkan region, where the festival is widely celebrated. These extra trains aim to ease overall congestion, reduce waitlists, and help people travel more comfortably during this festive season. 9. India's First Mining Tourism Project To Be Launched In Jharkhand Jharkhand is getting ready to launch India's first mining tourism experience, which will reportedly include tours of actual mining sites. This project could offer something new and educational for tourists. At the same time, it would showcase a lesser-known side of the region's economy and history. Read more about Jharkhand's mining tourism project and its current status. 10. Arunachal Pradesh May Be Declared India's 'Orchid Capital' Nature lovers, take note! Arunachal Pradesh plans to become India's Orchid Capital. With over 600 recorded species, the state boasts many rare and exotic blooms. Tourism authorities are planning to promote orchid-based eco-tourism, develop orchid parks, and boost awareness around conservation.
