/industry-wired/media/agency_attachments/2024/12/04/2024-12-04t130344212z-iw-new.png)
/industry-wired/media/agency_attachments/2024/12/04/2024-12-04t130332454z-iw-new.jpg)
/industry-wired/media/post_attachments/wp-content/uploads/2024/09/New-Age-Luxury-JSW-MG-Motors-Gears-Up-for-First-Premium-Car-Launch-by-March-IW-News.jpg)
JSW MG Motor India announced its entry into the luxury car market with a premium EV model set to launch by March 2025, under the "MG Select" brand, catering to eco-conscious luxury buyers.
A bold new move by JSW MG Motor India, a joint venture between China's SAIC Motor and India’s JSW Group made the headlines today. They announced their step into the luxury automotive segment with its first high-end car model slated for release by March 2025. On September 16, the company announced the launch of “MG Select” highlighting its strategic pivot towards the premium market.
At the launch, JSW MG India said, “This move reflects the company’s strategic response to opportunities in the premium automotive market.”
To enhance its appeal to ‘new-age’ buyers, the company is also introducing a dedicated sales outlet called ‘MG Select’, which will exclusively cater to its premium product range in the EV section.
This new automobile launch is intended to focus primarily on electric vehicles (EVs) and hybrids, offering a wider choice for environmentally conscious luxury car enthusiasts.
The company aims to open the first MG Select outlets in 12 major cities by the first quarter of next year, with plans to extend its presence further to reach a broader audience. The induction of MG Select can be seen as the roadmap for a larger luxury pivot as JSW MG Motor planning to introduce four premium models over the next two years.
According to Moneycontrol news, CEO Emeritus Rajiv Chaba, speaking at the launch of the Windsor EV last week, stated that the company plans to launch "one product every six months," signaling an aggressive product roadmap.
The joint venture between JSW and SAIC Motor was set in motion in November last year, with JSW Group holding a 35% stake, Indian Financial Institutions (IFI) 8%, MG Motor dealers 3%, and 5% reserved for employees. This partnership marks a new chapter for MG Motor in India, focusing on premium offerings and expanding its presence in the country’s growing luxury automobile market.