MG Motor India Private Limited
TypeJoint venture
IndustryAutomotive
Founded2017 (2017)
Headquarters
Gurugram, Haryana
,
India
Area served
India
Key people
Rajeev Chaba
(President & MD)[1]
BrandsMG Motor
Number of employees
3,000+ [2] (2023)
ParentSAIC Motor (65%)
JSW Group (35%)
Websitewww.mgmotor.co.in

MG Motor India Private Limited is an automobile manufacturer in India, which was established in 2019. Since 2023, it is a joint venture between the Shanghai-based Chinese automotive manufacturer SAIC Motor and Mumbai-based Indian multinational conglomerate JSW Group, which markets vehicles under the British MG marque.[3]

History

The whole subsidiary was setup in the year 2017 by SAIC Motor and began its sales and manufacturing operations in 2019 from a old General Motors facility in Halol, Gujarat.[4] The company was intended to allocate $650 million for investment, however the Indian government aimed to restrict funding from Beijing following a conflict in 2020 between troops of both nations along their disputed Himalayan boundary.[5]

In May 2023, in its attempt to support localization, MG Motor India decided to raise capital for funding its expansion in the country by tapping into Indian capital markets and reducing shareholding of parent organization SAIC.[6][7] By November 2023, the company entered into a strategic joint venture with JSW Group, which allowed latter to acquire 35% in the company.[8]

Operations

MG Motor India operates one manufacturing plant in the country, located in Halol, Gujarat. The plant has a capacity of 80,000 units per year and was previously owned by General Motors India, which halted its sales operations in India at the end of 2017. [9] MG Motor India has invested more than ₹2,000 crore in revamping the 178 acre facility after its takeover from General Motors.[9]

Like in other regions globally, MG cars manufactured and sold in India are designed by SAIC Advanced Design Studios co-located in London and Shanghai (refer to SAIC SMTC and SAIC-GM-Wuling).

Models

ICE vehicles

Model Indian introduction Current model
Introduction Update (facelift)
SUV/crossover
Astor 2021 2021 —
Hector 2019 2019 2023
Hector Plus 2020 2020 2023
Gloster 2020 2020 —

Electric vehicles

Model Indian introduction Current model
Introduction Update (facelift)
Hatchback
Comet EV 2023 2023 —
SUV/crossover
ZS EV 2020 2020 2022


See also

References

  1. ↑ Modi, Ajay (20 March 2018). "We believe in slow but sure growth in India: MG Motor India's Rajeev Chaba". Business Standard. Retrieved 12 March 2023.
  2. ↑ "MG Motor India Commences Production of Hector SUV From Gujarat Plant". News 18. 6 May 2019.
  3. ↑ Bureau, The Hindu (30 November 2023). "Will create greener, smarter mobility products for India, says SAIC Motor's Wang Xiaoqiu". The Hindu. ISSN 0971-751X. Retrieved 1 December 2023.
  4. ↑ "MG Motor India acquires Halol plant from GM, plans full revamp". Autocar Professional. Retrieved 1 December 2023.
  5. ↑ "JSW to take stake in MG Motor India as China's SAIC dilutes holdings". Nikkei Asia. Retrieved 1 December 2023.
  6. ↑ "China's SAIC to dilute stake in MG Motor India, drive EV sales". Reuters. 10 May 2023. Retrieved 1 December 2023.
  7. ↑ Wadhwa, Nilesh (11 May 2023). "MG Motor India's expansion strategy: Expert sees need to sync long-term commitment of potential stake buyers". Financialexpress. Retrieved 1 December 2023.
  8. ↑ Wadhwa, Nilesh (30 November 2023). "JSW Group partners SAIC Motor to acquire 35% stake in MG Motor India". Financialexpress. Retrieved 1 December 2023.
  9. 1 2 "MG Motor inaugurates first India facility in Gujarat, to roll out first product by 2019". Overdrive. Retrieved 20 July 2019.


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