JSW MG Motor India plans to enter the luxury segment with the launch of two new vehicles by next year, Gaurav Gupta, company’s Chief Growth Officer, said. JSW MG Motor -- the joint venture between China's SAIC Motor and JSW Group -- will enter the ‘accessible luxury’ segment and plans to introduce four new EV vehicles in the next two years, Gupta said. The company also has plans to set up a new retail channel brand, ‘MG Select’.
It will also set up exclusive experience centres in 12 cities across India in the first year. “With MG Select we will be bringing in four new products over the next two years to begin with,” Gupta told PTI. “The MG Select channel is for ‘premium entry’ of MG Motor India.
It will bring in accessible luxury products for the new-age customer of today.” Delving on the reasons for the foray, Gupta said, “So far, we’ve been in the mainstream or mass premium so far as an MG brand but what we have observed is that there is a growing opportunity in the new India’s preference towards accessible luxury and also ‘new-age’ choices that are coming in the marketplace.” “We will be bringing in fresh, new platforms and products and these will be across the new energy vehicles (NEV) platform.
So, it will have plug-in hybrids, hybrids and electric vehicles,” said Gupta, however, he clarified that MG Select is not purely an EV channel. When asked about the product launch programme for MG Select, he said, “We will start with two (products) in the next year itself, beginning from the first quarter of 2025.” Gupta said the company’s existing six models, including Hector, Astor, Comet EV and the newly-launched Windsor EV, will continue to play in the mainstream segment through the current sales network.
The luxury car segment in India is just about a 1 percent of the overall industry, which was 42 lakh units last year, he said, adding the opportunities and the options available to the consumers have been pretty much the same for many years. At present, the entry luxury car segment in India is at a price range of around Rs 45 lakh with vehicles like BMW 2 Series, Audi Q3 and Mercedes-Benz A Class dominating the category. When asked if MG Select would focus only on SUVs, he said the company will not limit itself to a particular body style.
This is going to be the luxury portfolio that we are going to be bringing in that will cater to different body styles and support different requirements, because the new age customer has got a choice or a desire for a car for every purpose.” On the network expansion plans for MG Select, Gupta said, “We are targeting 12 cities in the first year in phase one, and then we will keep expanding to the other cities over time.”.
