JSW MG Motor to Enter Luxury Segment with Two New Vehicles in 2025
JSW MG Motor, a joint venture between China's SAIC Motor and JSW Group, plans to enter the "accessible luxury" segment with the launch of two new vehicles by next year. The company also aims to introduce four new electric vehicles (EVs) in the next two years.
To cater to this new segment, JSW MG Motor will establish a new retail channel brand called "MG Select." This channel will focus on offering premium vehicles to a new generation of customers. Additionally, the company plans to set up exclusive experience centers in 12 cities across India within the first year.
"So far, we've been in the mainstream or mass premium so far as an MG brand, but what we have observed is that there is a growing opportunity in the new India's preference towards accessible luxury and also 'new-age' choices that are coming in the marketplace."
The company plans to introduce a variety of new platforms and products, including plug-in hybrids, hybrids, and electric vehicles. However, Gupta clarified that MG Select is not solely an EV channel.
The first two vehicles under the MG Select brand are expected to be launched in the first quarter of 2025. Meanwhile, the company's existing six models will continue to be sold through the current sales network.
The luxury car segment in India currently accounts for only about 1% of the overall industry. JSW MG Motor aims to offer more options and cater to the evolving preferences of new-age customers. The company plans to expand its MG Select network to 12 cities in the first year and gradually reach other cities over time.