BENGALURU (Reuters) – JSW MG Motor India, a joint venture between SAIC Motor and JSW Group, said on Monday it will launch a luxury car brand, aiming to sell its first premium cars by the first three months of 2025.
Under the brand, called ‘MG Select’, the company will launch four products over the next two years, it said.
“This move reflects the company’s strategic response to opportunities in the premium automotive market,” JSW MG Motor India said in a statement.
China’s SAIC, which owns British MG Motor, and JSW announced the JV in December last year, with the Indian group holding a 35% stake. The firm currently makes SUVs like the Hector and Gloster, and has two electric models – the small Comet EV and the larger ZS EV.
MG Motor has an about 1% share of the passenger vehicle market where it competes with domestic players like Tata Motors and foreign automakers Kia and Volkswagen. SAIC has struggled to grow its presence in India as New Delhi sought to limit investments from Beijing.
JSW MG Motor India did not specify the price points of its upcoming premium launches, and did not immediately respond to a Reuters’ request for comment.
MG Select will offer EVs, hybrids and plug-ins and will set up car showrooms across India, the company said.
The British brand currently sells cars priced between about 1 million rupees ($11,922.15) and 3.9 million rupees ($46,496.38).
Mercedes Benz leads sales of luxury cars – which are more expensive and generally have more features – in India.
($1 = 83.8775 Indian rupees)
(Reporting by Varun Hebbalalu in Bengaluru)
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