New Delhi, February 16 JSW MG Motor India is planning to launch four new models this year, including a plug-in hybrid SUV, as part of its five-year plan to drive the next phase of growth, according to its Managing Director Anurag Mehrotra.
The company, which has unveiled the premium SUV 'MAJESTOR', will be increasing its production capacity to 3 lakh units annually from the current 1.2 lakh units, and also increase localization, besides launching new models, entailing a total investment of up to Rs 5,000 crore, Mehrotra told
"As we are preparing for the next phase, we have created a five-year plan. The five-year plan talks about growing volumes to about 3 lakh units," he said.
Mehrotra further said, "We are also looking to invest between Rs 4,000 crore and Rs 5,000 crore, which will be towards plant expansion. This will be on products, and it will also be on driving localization. These three will essentially be where our capital expenditure will go."
On the funding, he said the company is looking at various options, including internal accruals and external funding.
On the timeline for increasing the annual capacity, he said, "It would typically take about 18 months to do the expansion."
The company's Halol plant in Gujarat has a current annual capacity of 1.2 lakh units.
In 2024, JSW MG Motor India -- a joint venture between China's SAIC and Indian conglomerate JSW Group -- had announced that it would invest Rs 5,000 crore to enhance production capacity and launch one new car every 3-6 months.
Asked about new products, he said, "This year alone, we are looking to bring about four products."
The first one is the MAJESTOR, which is expected to hit the market in April-May this year and will compete with models like the Toyota Fortuner.
"Then subsequently we will get three more products this calendar year itself," Mehrotra said, adding, "the remaining three products, excluding the MAJESTOR, will be all new energy vehicles, and one of them will be a plug-in hybrid".
Mehrotra further said, "All the four products we are talking about will be SUVs."
Three products will be available through the MG channel, and one will be for the premium chain 'MG Select', he added.
On the sales outlook, Mehrotra said the company is looking at an overall passenger vehicle industry growth in 'double digits' "especially after the GST rationalization that has taken place and also the base effect of the first half of 2025 when the growth was very muted".
"A similar story would pan out on the EV side, where the penetration is expected to grow more significantly," he said, adding that EV penetration is expected to rise to around 7-8 per cent in 2026, up from 4.5 per cent in 2025.