JSW MG to Invest $441 Million to Boost India Steel Output Threefold

JSW MG Motor India, the Indian venture of China’s SAIC Motor Corporation, plans to invest up to ₹40 billion ($441 million) to expand its domestic production capacity as it aims to strengthen its position in India’s rapidly growing new-energy vehicle (NEV) market.

The investment will increase the India plant’s capacity to 300,000 units over the next few years and will focus on electric and plug-in hybrid vehicles, Managing Director Anurag Mehrotra said in an interview.

This marks one of the largest capital expansions since billionaire Sajjan Jindal’s JSW Group partnered with SAIC in 2024, highlighting the joint venture’s ambition to become a leading NEV manufacturer in India. The expansion will also involve upgrades to paint and body shops and support a pipeline of new models scheduled to launch starting 2027.