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JSW MG to shift focus to NEVs; to phase out conventional vehicles
Industry News- Sep 12,24
JSW MG aims to introduce a new vehicle every four to six months and anticipates that over 50% of its sales will come from electric vehicles (EVs) in 2024.
JSW MG Motor India is set to transition away from traditional internal combustion engine (ICE) vehicles, focusing instead on new energy vehicles (NEVs), according to Parth Jindal, Director. The company's latest release, the electric crossover utility vehicle 'MG Windsor,' marks its first launch since JSW Group's investment in MG Motor India.
JSW MG aims to introduce a new vehicle every four to six months and anticipates that over 50% of its sales will come from electric vehicles (EVs) in 2024. Jindal emphasised that the company intends to prioritise NEVs, including strong hybrids, plug-in hybrids, and battery electric vehicles, while minimising the introduction of traditional ICE vehicles. He noted that ICE models might still be considered if technological advancements do not meet the company's standards.
Currently, EVs constitute 35% of JSW MG's total sales, with this percentage expected to exceed 50% following the launch of the Windsor. The Windsor features a 38 kWh Li-ion battery with a range of 331 km per charge and can be charged in 40 minutes at a DC fast charger. It is priced at Rs 999,000 plus Rs 3.5/km for battery usage, with an ownership plan through a Battery-as-a-Service (BaaS) model.
The Windsor will be available for booking starting October 3, with deliveries commencing October 12. The company plans to localise production of the Windsor to around 80% within the next 12 to 18 months.
JSW Group, having acquired a 35% stake in a joint venture with China's SAIC Motor, aims to significantly boost MG Motor's growth in India. The joint venture targets selling one million passenger electric vehicles in India by 2030, aligning with the anticipated market growth to 10 million units annually.
(Business Standard )
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