JSW MG Motor to Invest Up to $440 Million in India, Bets Big on Hybrids and EVs
JSW MG Motor India, the joint venture between China’s SAIC Motor and India’s JSW Group, plans to invest up to $440 million to expand its manufacturing capacity and strengthen its new energy vehicle (NEV) portfolio. Managing Director Anurag Mehrotra said the company will launch three to four new models this year and scale up its plant capacity to 300,000 units annually from around 120,000 units. The investment will be funded through internal accruals, along with potential debt and equity options.
The automaker has faced growth challenges amid tighter scrutiny of Chinese investments in India since 2020. In 2024, SAIC diluted its stake in the India unit by selling a minority share to JSW to raise capital. While sales have improved — rising to 70,500 vehicles in 2025 from 61,000 in 2024 — the company remains loss-making, with losses widening to $121 million in the last financial year. Despite this, Mehrotra noted improving business sentiment as India-China ties show signs of easing.
Going forward, the company will focus heavily on hybrids and electric vehicles, with NEVs expected to account for at least 75% of its product mix. JSW MG Motor aims to tap into India’s rapidly evolving auto market, the world’s third-largest, where global players such as Toyota, Suzuki and Renault are expanding operations. The company also plans deeper localisation of components to reduce costs and improve profitability, betting that EVs and hybrids could make up 30% of India’s annual car sales by 2030.
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