Automotive company
MG Motor India Private Limited is an automobile manufacturer in India, which was established in 2019. Since 2023, it is a joint venture between the Shanghai-based Chinese automotive manufacturer SAIC Motor and Mumbai-based Indian multinational conglomerate JSW Group, which markets vehicles under the British MG marque.[3]
History
The whole subsidiary was setup in the year 2017 by SAIC Motor and began its sales and manufacturing operations in 2019 from a old General Motors facility in Halol, Gujarat.[4] The company was intended to allocate $650 million for investment, however the Indian government aimed to restrict funding from Beijing following a conflict in 2020 between troops of both nations along their disputed Himalayan boundary.[5]
In May 2023, in its attempt to support localization, MG Motor India decided to raise capital for funding its expansion in the country by tapping into Indian capital markets and reducing shareholding of parent organization SAIC.[6][7] By November 2023, the company entered into a strategic joint venture with JSW Group, which allowed latter to acquire 35% in the company.[8]
Operations
MG Motor India operates one manufacturing plant in the country, located in Halol, Gujarat. The plant has a capacity of 80,000 units per year and was previously owned by General Motors India, which halted its sales operations in India at the end of 2017.
[9] MG Motor India has invested more than ₹2,000 crore in revamping the 178 acre facility after its takeover from General Motors.[9]
Like in other regions globally, MG cars manufactured and sold in India are designed by SAIC Advanced Design Studios co-located in London and Shanghai (refer to SAIC SMTC and SAIC-GM-Wuling).[10]
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