Following a significant fund infusion from the JSW Group, MG Motor India is set to launch five new products over the next 12 months, according to CEO Emeritus Rajeev Chaba. With financial backing from its new joint venture partner, the British brand is rolling out its Vision 2.0, planning to introduce one new product every 10 weeks for the coming year.
In a bid to expand its market reach and refresh its aging portfolio, JSW MG Motor India will introduce vehicles priced between Rs 15 lakh and Rs 50 lakh. Rajeev Chaba revealed, “One of our top priorities in the joint venture was getting new products approved. I’m pleased to announce that we have five new products lined up for launch next year. Two will be premium, and three will be mainstream.”
The first release is expected to be the Cloud EV, a crossover sports utility vehicle priced between Rs 15 lakh and Rs 20 lakh, positioned between the Comet EV and ZS EV. Subsequent launches may include the Bingo hatchback and a D segment SUV based on the global Starlight SUV. This high-end SUV, likely to sit alongside the Gloster, may offer both a Plug-in Hybrid variant and a Battery Electric Version. These three models will be locally manufactured, and the company plans to open dedicated premium outlets for selling the Cyberster and MG7 EV.
Chaba hinted at a new crossover utility vehicle (CUV) that will embody MG’s high-tech DNA, combining the comfort of a sedan with the utility of an SUV. Scheduled for a September launch, this intelligent SUV promises ample interior space and advanced features. “Just imagine an SUV with good, huge inside space. Visualise that vehicle; it’s an intelligent SUV. It will have a ton of features, as MG has always done. The introduction of this intelligent CUV is slated for September. Beyond that, I cannot share more details,” added Chaba.
With plans to invest Rs 5000 crore, MG Motor is rapidly expanding its capacity. The company is acquiring land to add a new manufacturing line at its Halol facility near Vadodara, Gujarat. Additionally, a battery assembly plant is being set up within the Halol factory to ensure high localisation. Chaba stated, “We should expand fast. We are currently exploring the possibility of expanding our capacity from 100,000 to 300,000 units. So, that’s our plan. In three to five years, we should aspire to create and sell 300,000 cars.”
Acknowledging a slow market and lower-than-expected sales volumes, Chaba anticipates growth with the festive season and new product launches. Currently, JSW MG Motor India averages less than 5000 units a month in sales, but with the new additions, Chaba expects to sell 70,000 to 75,000 units this financial year. “We anticipate that the second quarter will outperform the first, and the holiday season will only help to pick up speed.” I expect the market to grow by 7-8% in the current financial year,” he added.
Additionally, the company is expanding its network from 400 to 600 outlets, reaching new customers in rural areas.