JSW MG Eyes Luxury Segment

16 Sep 2024 , 01:03 PM

JSW MG Motor India is set to enter the luxury car market in India by introducing its new energy vehicles (NEVs), which include plug-in hybrids, electric vehicles, and hybrids. This move is based on the industry’s increasing use of electric vehicles.

The recently created joint venture between MG Motor and Sajjan Jindal-promoted JSW Group would face challenges in recruiting buyers into the sector, which is currently dominated by German marquee brands.

Nonetheless, the business views this as a benefit. “In India, consumers of luxury cars have mostly had the same options. Thus, via our NEVs, we see a chance to provide these customers with affordable luxury,” JSW MG Motor’s chief growth officer, Gaurav Gupta, told resources.

He declared that the corporation would try to duplicate the Rs10-20 lakh SUV market segment’s success from five years ago with the MG Hector brand.

According to the plan, JSW MG Motor would launch the first of its four high-end models for the premium category during the first quarter of 2025. The other two models would follow in the following two years.

The cars will first be offered for sale in twelve locations via a special retail channel under the MG Select name. These establishments would try to provide clients with a “curated experience.” In addition, MG Motor is developing alternative distribution strategies for cities without a premium store. “The goal is to enable customers to access it.” “How can they possess a portion of MG Select?” he asked.

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