JSW-MG Motor JV to launch its first EV in October-December quarter

A joint venture of JSW Group and MG Motor will be launching its first vehicle – a crossover utility vehicle (CUV) - somewhere in October-November this year.

The proposed vehicle, most probably the Cloud EV an electric vehicle the company has already launched in global markets, is expected to be priced at Rs20 lakh in India.

Cloud EV will have spacious interiors, high ground clearance and several connected car features, say reports.

Also, in the next 15 months, the JSW-MG Motor India JV will be launching 5 new vehicles that run on new and renewable energy, including electric and hybrid, according to reports.

The plan is to launch three mass-market and two premium cars while also ramping up capacity, reports citing Rajeev Chaba, CEO Emeritus of the company, said.

Over the next 3-5 years, the Jindals plan to raise vehicle manufacturing capacity ai the joint venture to 3 lakh units, with EVs getting a majority share.

Chaba said focus is also on localisation of production of all major components and achieving cost efficiency.

It may be noted that the JSW Group has embarked on an ambitious programme of establishing an integrated electric vehicle and EV battery manufacturing infrastructure in the country, involving an investment of Rs40,000 crore.

The project, based in Naraj, in Cuttack district of Odisha, comprises an electric vehicle and component manufacturing plant, a copper smelter and lithium refinery, and a 50 GWH EV battery plant.