This milestone highlights the growing demand for four-wheeler EVs in the Indian market and underscores the shift toward electric mobility, says JSW MG Motor India
Several battery-driven models will be showcased by top seven car manufacturers at Auto Expo 2025, according to industry sources.
The company is offering the Windsor at Rs 9.99 lakh plus Rs 3.5/km for battery. It has also introduced an ownership plan through a Battery-as-a-Service (BaaS) offering and claimed that owning the Windsor, an electric CUV, will be at the price equivalent of a manual engine-based compact SUV.
Positioned as an intelligent crossover utility vehicle, the company stated that the USP of this car will be the functionality of an SUV and the interior space of a sedan
It enables access to the almost entire charging network of the country through partnerships with leading providers like Adani Total Energies Limited (ATEL), BPCL, Chargezone, Glida, HPCL, Jio-BP, Shell, Statiq, Zeon, and many others who shall be on-boarded soon
As per the partnership, JSW MG Motor India customers will be able to leverage Shell's wide fuel station network across the country for vehicle charging.
Analysts believe that with its latest portfolio priced up to Rs 35 lakhs, MG is well-positioned to compete directly with its rivals, as plug-in hybrids are seen as a practical choice due to current limitations in charging infrastructure
Under this alignment, MG and HPCL will together install 50kW/60kW DC fast chargers at key locations covering highways and cities across India.
The company said its EV (electric vehicle) portfolio contributed 34 per cent of the total units sold in this period.
However, Chaba cautioned that the demand for EVs in India could remain subdued due to concerns about insufficient charging infrastructure. He emphasized the importance of addressing these infrastructure gaps.
MG Hector's new edition comes with starry-black exterior, and interiors in black theme with gun metal accents.
Priced between Rs 6 lakh and Rs 3 crore, are set to be launched in the coming year, of which 65% are Sports or Multi Utility Vehicles (SUV/MPVs) spanning various price segments.
The report forecasts that by 2030, EVs are expected to represent nearly a third of India's personal vehicle market
The automaker had sold 6,051 units in March 2023.
Tata Motors leads with the Punch EV in 2024, while Maruti Suzuki, Hyundai, Kia, Renault, Mahindra, Mercedes Benz, and Audi among others gear up with their offerings
The newly formed company, a joint venture between China's SAIC and Indian conglomerate JSW Group will also seek to create a "Maruti moment" in the new energy vehicle segment, JSW Group Chairman Sajjan Jindal said, while announcing the finalisation of the partnership.
Last year in November, China's largest automaker SAIC Motor had inked a joint venture agreement with the JSW Group in order to accelerate the transformation and growth of MG Motor in India
During the first 11 months of this fiscal, passenger carmakers sold 38,59,000 units of sedans, utility vehicles (UVs) and hatchbacks, registering an 8.6 percent increase from 33,53,000 units during the corresponding period last year
In November last year, the JSW Group had announced the acquisition of a 35 percent stake in MG Motor India, owned by Chinese automaker SAIC Motor Corp
During the calendar year 2023, the total sales were 41,08,000 units, up 8.3 percent from 37,92,000 units sold in 2022
A quick look at how the auto industry performed in 2023
MG Motor’s business has been valued at Rs 8,000 crore and JSW will invest around Rs 2,800 crore for a 35 percent stake in the joint venture, where MG Motor India’s entire operations are expected to be transferred
The comparison with November 2022 might be a `little tricky' because this year’s numbers include the festive season bookings, which happened in October last year. Nonetheless, business has been good
Earlier in November, the MCA, through its registrar of companies (RoC), summoned the company's directors and its auditor Deloitte to provide clarification on specific audit irregularities discovered during the inquiry.
Industry analysts reckon that carmakers despatched around 3,91,472 units in October, the highest ever monthly sales in the history of the domestic passenger vehicle (PV) market.