JSW MG Motor to Invest Rs 1,400 Crore This Year, Launch 4 Vehicles

JSW MG Motor India will invest around Rs 1,400 crore in the financial year to expand localisation, introduce four new vehicles and increase manufacturing capacity, as the company prepares for its next phase of growth in the country's fast-growing new energy vehicle market, Managing Director Anurag Mehrotra said.

The investment forms part of the company's broader near-term capital expenditure plan of Rs 3,000 crore to Rs 4,000 crore, which will be directed towards three priorities - localisation, new products and plant expansion.

The first priority is localisation. Mehrotra said the company has already significantly increased local content in the Windsor electric vehicle and aims to take localisation to around 70% by next year.

"The first bucket would be the number one priority of the company, which is localisation. We are well on track to get to about 70% by next year," he said.

The second priority is new products. After launching three vehicles last year, the company plans to introduce four models this year, with the recently launched MG Majestor being the first.

"The second is the bucket of new products. You saw three products last year. This year we are launching four that I promised you. All of them are on track. The first one was the Majestor... Our plant can't produce enough, which is a good problem to have," Mehrotra said.

The third area of investment will be manufacturing expansion. The first phase of expansion at the Halol plant is expected to be completed by March 2027, increasing annual production capacity from 120,000 units to 160,000 units. The company plans to begin work next year on a second phase that will raise capacity to about 300,000 units.

Alongside the investment plans, JSW MG unveiled its new ADAPT architecture, which it described as India's first multi-new-energy-vehicle platform capable of supporting battery electric vehicles, hybrid electric vehicles, plug-in hybrid electric vehicles and range-extended electric vehicles on a single architecture.

Mehrotra said the platform reflects the company's strategy of addressing three different groups of buyers rather than relying on a single technology.

The first vehicles based on the ADAPT platform will be launched this financial year. Mehrotra said all products based on the platform will be larger than four metres.

"So the first one would be an EV, and then it will be followed by a plug-in hybrid," he said. "It will all be over 4 metres for sure. We cannot do a sub-4-metre vehicle on this."

The company said the single-platform approach allows it to support multiple powertrains while reducing development costs.

"By bringing one platform with all the four technologies in it, you have actually reduced your CAPEX need by at least half," Mehrotra said.

He added that the company will invest between Rs 3,000 crore and Rs 4,000 crore in the near term, with spending focused on products, localisation and expanding manufacturing capacity.