Latest news with #JSWMG
Time of India
10-07-2025
- Automotive
- Time of India
JSW at Wheel in MG JV, Looks to Up Stake as SAIC Takes Backseat
JSW Group plans to raise its stake in JSW MG Motor India , its car manufacturing joint venture with SAIC Motor . The Chinese company has decided against committing further capital to India, instead prioritising investments at home and in Europe. Parth Jindal, director of JSW MG, told ET the group would become the single largest shareholder in the maker of Astor and Hector SUVs. Currently, JSW MG is a 51:49 joint venture, with JSW owning 35%, Indian financial institutions 8%, MG Motor India dealers 3%, and JSW MG Motor India employees 5%. The remaining 49% is with SAIC, which will continue to extend technology and brand support, he added. Alongside, the Sajjan Jindal-led group has finalised two separate licensing pacts—one each for electric passenger and commercial vehicles —with Chinese automakers, as it pushes ahead with its ambition of emerging as a full-spectrum electric mobility company.
Time of India
10-07-2025
- Automotive
- Time of India
JSW Group to increase stake in JSW MG Motor India amid SAIC's exit from Indian Market
JSW Group plans to raise its stake in JSW MG Motor India , its car manufacturing joint venture with SAIC Motor . The Chinese company has decided against committing further capital to India, instead prioritising investments at home and in Europe. Parth Jindal, director of JSW MG, told ET the group wants to come in as the single largest shareholder in the maker Hector SUV and Windsor EV . Currently, JSW MG is a 51:49 joint venture, with JSW owning 35 per cent, Indian financial institutions 8 per cent, MG Motor India dealers 3 per cent, and JSW MG Motor India employees 5 per cent. The remaining 49 per cent is with SAIC, which will continue to extend technology and brand support, he added. Alongside, the Sajjan Jindal-led group has finalised two separate licensing pacts—one each for electric passenger and commercial vehicles—with Chinese automakers, as it pushes ahead with its ambition of emerging as a full-spectrum electric mobility company. Jindal didn't name the Chinese firms. 'SAIC has made it clear they are not committing additional capital to India right now. Their focus is China and Europe. We have put our hands up, saying we would be interested in investing… Their stake would get diluted,' he said, adding that the additional stake purchase would be funded through internal accruals. On the size of JSW's stake in the automaker post the infusion and the timeframe, Jindal said, 'Those talks are still on, but we want to come in as a clear, single largest shareholder." Jindal was speaking on the sidelines of the inauguration of MG Select, JSW MG's first exclusive EV showroom for its premium offerings. The company is expanding its EV footprint as part of its localisation and brand development efforts. It plans to open 13 more Select outlets over the next year. Simultaneously, JSW is proceeding with plans to launch its own EVs in the coming years. Its electric trucks and buses are slated to debut in early 2026, and electric passenger cars in the first half of 2027. The conglomerate has signed non-equity licensing deals for both ventures with Chinese automakers, involving upfront fees and per-unit royalties, while committing to full localisation in India. 'There is no equity arrangement. It's a pure licensing agreement. We will pay a licensing fee and royalty per vehicle but will localise production from the start,' said Jindal. He said the commercial vehicle range will sport a new brand name, while passenger EVs will be sold under the JSW brand. A dedicated manufacturing facility for the former is under development. JSW is forging licensing agreements with Chinese automakers amid longstanding geopolitical tensions with Beijing. The latter has recently curbed exports of rare earth magnets to India, crucial for industries like automobiles and consumer electronics. 'One thing is very clear—the technology for affordable new energy vehicles resides in China. No other country can match what they've achieved. That said, we're aware of the geopolitical tensions, which is why we're focusing on localising manufacturing,' said Jindal. 'The partnerships we've entered are strictly for technology licensing- —to get the know-how, not to rely on imports," he said. For instance, he said, the Windsor EV was launched with less than 30 per cent localisation but by this year-end, it will touch 72 per cent, and the plan is to take it close to 90 per cent.
Time of India
10-07-2025
- Automotive
- Time of India
JSW MG Motor inaugurates MG Select showroom, monitors rare earth supply amid EV expansion
JSW MG Motor 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.
Time of India
10-07-2025
- Automotive
- Time of India
JSW at Wheel in MG JV, looks to Up Stake as SAIC Takes Backseat
JSW Group plans to raise its stake in JSW MG Motor India, its car manufacturing joint venture with SAIC Motor . The Chinese company has decided against committing further capital to India, instead prioritising investments at home and in Europe. Parth Jindal, director of JSW MG, told ET the group wants to come in as the single largest shareholder in the maker Hector SUV and Windsor EV. Currently, JSW MG is a 51:49 joint venture, with JSW owning 35%, Indian financial institutions 8%, MG Motor India dealers 3%, and JSW MG Motor India employees 5%. The remaining 49% is with SAIC, which will continue to extend technology and brand support, he added. Alongside, the Sajjan Jindal-led group has finalised two separate licensing pacts—one each for electric passenger and commercial vehicles—with Chinese automakers, as it pushes ahead with its ambition of emerging as a full-spectrum electric mobility company. Jindal didn't name the Chinese firms. 'SAIC has made it clear they are not committing additional capital to India right now. Their focus is China and Europe. We have put our hands up, saying we would be interested in investing… Their stake would get diluted,' he said, adding that the additional stake purchase would be funded through internal accruals. On the size of JSW's stake in the automaker post the infusion and the timeframe, Jindal said, 'Those talks are still on, but we want to come in as a clear, single largest shareholder." Jindal was speaking on the sidelines of the inauguration of MG Select, JSW MG's first exclusive EV showroom for its premium offerings. The company is expanding its EV footprint as part of its localisation and brand development efforts. It plans to open 13 more Select outlets over the next year. Simultaneously, JSW is proceeding with plans to launch its own EVs in the coming years. Its electric trucks and buses are slated to debut in early 2026, and electric passenger cars in the first half of 2027. The conglomerate has signed non-equity licensing deals for both ventures with Chinese automakers, involving upfront fees and per-unit royalties, while committing to full localisation in India. 'There is no equity arrangement. It's a pure licensing agreement. We will pay a licensing fee and royalty per vehicle but will localise production from the start,' said Jindal. He said the commercial vehicle range will sport a new brand name, while passenger EVs will be sold under the JSW brand. A dedicated manufacturing facility for the former is under development. JSW is forging licensing agreements with Chinese automakers amid longstanding geopolitical tensions with Beijing. The latter has recently curbed exports of rare earth magnets to India, crucial for industries like automobiles and consumer electronics. 'One thing is very clear—the technology for affordable new energy vehicles resides in China. No other country can match what they've achieved. That said, we're aware of the geopolitical tensions, which is why we're focusing on localising manufacturing,' said Jindal. 'The partnerships we've entered are strictly for technology licensing—to get the know-how, not to rely on imports," he said. For instance, he said, the Windsor EV was launched with less than 30% localisation but by this year-end, it will touch 72%, and the plan is to take it close to 90%.
Time of India
15-06-2025
- Automotive
- Time of India
Worrying cracks hiding behind MG Motor's own ‘house of Windsor'
Worrying cracks hiding behind MG Motor's own 'house of Windsor' Synopsis India's most successful EV is powering JSW MG's rise. But internal fragilities and external challenges threaten the fairytale. By RAJIV GHOSH 8 Mins Read, Jun 16, 2025, 05:00 AM IST SHARE THIS NEWS Close Font Size Abc Small Small Abc Normal Normal Abc Large Close 'It was the best of times, it was the worst of times' – reads the opening line of A Tale of Two Cities by Charles Dickens. The beginning of the famous 1859 novel perhaps best describes an automobile manufacturer in the country – Morris Garages India (now JSW MG Motor India). It is the best of times for the company, which has a vintage British lineage and a Chinese patronage through SAIC Motor Corporation, is smiling through the lanes of India's
