JSW MG MOTOR INDIA PRIVATE LIMITED
Car sales lose pace in June, SUVs stay in front
Passenger vehicle sales in India remained sluggish for the third consecutive month in June due to a high base and reduced post-pandemic pent-up demand. Sales rose 3.7% from a year earlier but slightly declined from May, with 340,784 units sold compared to 328,710 last year. SUVs comprised 53% of sales.
JSW MG Motor India retail sales dip 9 pc in June to 4,644 units
JSW MG Motor India reported a 9% year-on-year decline in retail sales for June, with 4,644 units sold compared to 5,125 units in June 2023. Despite this, the company's flagship SUV, the ZS EV, achieved its highest-ever monthly sales in June 2024.
Indian streets gear up for electrifying SUV launches from Tata, Hyundai, Maruti & more
India gears up for a wave of SUV launches, including Tata Motors, Hyundai, Kia, and more, showcasing the industry's move towards sustainable transportation. Maruti Suzuki to unveil its first EV at Auto Expo 2025, and Mercedes-Benz targets a quarter of sales from EVs by 2026.
JSW MG Motor India partners with Ecofy for EV financing
JSW MG Motor India has partnered with Eversource Capital-backed NBFC Ecofy to offer financing and leasing solutions for up to 10,000 JSW MG electric vehicles over the next three years. The partnership includes loan options and leasing arrangements for retail customers and B2B operators.
JSW Energy begins construction as part of its foray into battery storage services
JSW Energy has started construction on a Battery Energy Storage Project (BESS) to enter the energy storage services business, enabling the storage and release of renewable energy. They were awarded a 1.0 GWh battery storage project by SECI, with commissioning expected by June 2025. The company is also developing green hydrogen and steel projects, aiming to achieve 20 GW generation capacity and 40 GWh energy storage capacity by 2030.
Own midcaps? Do a check & balance exercise to avoid decision of haste: 7 midcaps from different sectors with an upside potential of upto 49%
Every now and then the market goes through phases, where it prefers a certain set of stocks, not based on sector but based on the overall market cap. So, sometimes it is large caps, at other mid-caps. Now this partially happens, due to the flows which are coming to markets. For example, if more flows are coming to mid-cap or multicap schemes there is bound to be out performance in the mid-cap space. Now what it does is that it tends to create a sudden surge in mid-cap. Similarly when there is an outflow like the kind of one which we saw in March this year, midcap stocks tend to decline sharply. Essentially, it is the flows which impact the broader matrix of how midcaps behave. So there are phases not owning a midcap stocks appeared to sin and then there phase, where owning them appears to be sin. But if one focuses on the underlying business and some critical parameters, there is a possibility of getting rid of these phases of anxiety which keep coming to the street and create long term wealth.
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Power stocks: Both PSUs and pvt ones got re-rated. Ready for another round in Modi 3.0? 6 stocks with upside potential of up to 37%
The summer heat leads to high power consumption is a well known fact. What has been the difference in the headlines this year and last two or three years? The news about massive power cuts and the possibility of power plants running out of coal is missing. The news which is dominating is that power demand is high and is being met. This change is the result of many things, right from optimism at one point of time to absolute despair at another. Finally policy push and discipline and integrated approach toward solving the issue of the sector, whether it for thermal, solar, wind or hydro. This led to a certain level of re-rating in Modi 2.0 which is likely to get pace in Modi 3.0. One thing which goes unnoticed is the fact that the power sector moving out of the trouble not only means good news for power companies but also the banks, because after metal, power companies topped the list of NPA of the banks.
Passenger vehicle wholesales in slow lane in May due to high base effect, elections
Passenger vehicle wholesales in India grew marginally in May due to the high base effect and muted demand during the general elections. Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra, Toyota Kirloskar Motor, Kia India, and MG Motor India all reported varying levels of growth.
Now India can hope to have its own SpaceX and Blue Origin
Elon Musk's SpaceX and Jeff Bezos' Blue Origin lead the global space industry discourse. From reusable rockets to space tourism, these companies drive innovation in the space sector.
Chinese companies may be permitted to dilute stakes in JVs with Indian partners
While decisions will continue to be made on a "case-by-case" basis with a focus on security concerns, sources suggest that this move could enable companies like Xiaomi and other prominent Chinese firms to expand their presence in India.
EV ride-hailer BluSmart seeks $300 million to expand car fleet
BluSmart, India’s top electric cab operator, aims to raise $300 million to expand its fleet with cars from top manufacturers, targeting major cities for premium service. The company focuses on electrification and sustainability efforts in India, with plans to double revenue by 2025.
EV stocks vroom up to 253% in 1 year. Should you invest?
Hindustan Copper shares, which are seen as one of the beneficaries of the growing EV adoption, have rallied 253% in the last year. Other EV stocks that have more than doubled investor wealth in one year are Himadri Speciality Chemical, Servotech Power Systems, JBM Auto, and Exide Industries.
China's Leapmotor set to follow BYD, MG into India; budget EV space set for intense competition
Leapmotor, which had talks going on with Sajjan Jindal-led JSW, will be following in the footsteps of its Chinese peers MG and BYD into India.
MG Motor India looks to expand network in tier III, IV to drive next phase of growth
MG Motor India aims to expand its presence in tier III and IV cities by establishing 100 new touchpoints by the fiscal year end. With plans to increase touchpoints to 520 across 270 cities by 2024-25, MG Motor embarks on its growth phase 'MG 2.0', focusing on production capacity enhancement and introducing new models.
Adani Gas arm ties up with MG Motor India for EV charging infra
Adani TotalEnergies E-Mobility partners with MG Motor India to enhance EV charging infrastructure in India, aiming to set up CC2 60 kW DC chargers at MG dealerships. The collaboration explores integrating public charging stations across platforms, emphasizing sustainable mobility and contributing to India's energy transition. MG Motor India shows growth despite recent sales dip.
SAIC's MG Motor India plans to bring in Indian investors including JSW
SAIC Motor's MG Motor India to attract investors for market expansion and risk prevention. JSW Ventures, IndoEdge India Fund, dealer trust, and employee stock plan to aid growth in India's auto sector.
CCI clears IndoEdge's stake purchase in MG Motor India, other deals
The acquisition of shares in MG Motor India will grant IndoEdge India Fund 8.70% of the voting and economic rights, according to a statement by the antitrust regulator. The acquirer is a large value fund for accredited investors, a scheme by IndoEdge which is a contributory determinate trust registered with the Securities and Exchange Board of India as an alternative investment fund, it said.
Bulls in action! RIL, private banks drive Sensex 500 points higher
Indian shares surged with BSE Sensex up 500 points. Nifty50 topped 22,150 level. Private bank stocks and index heavyweight RIL lead top gainers.
Indians’ electric love to power EV sales to a record
The sales surge would be propelled by falling battery prices and resultant product price cuts by some automakers, robust government support for eco-friendly vehicles, higher prices of fossil fuels and growing environmental awareness among consumers. Launch of new models by automakers is also helping attract new buyers into this segment.
MG 2.0: JSW MG Motor India sets wheels rolling to give India another 'Maruti moment'
JSW Group and SAIC Motor-owned MG Motor India announced a joint venture to produce electric and internal combustion engine cars in India. With JSW's 35% stake acquisition, the partnership aims to challenge Maruti and Tata Motors' dominance in Indian markets. MG plans to capture a third of the New Energy vehicle market by 2030, focusing on EVs.
MG Motor, JSW unveil electric sports car Cyberster. Here are likely price & launch date, speed, other details
India's JSW Group and Chinese car manufacturer SAIC Motor-owned MG Motor India has unveiled electric sports car in India. The vehicle, powered by dual motors, can accelerate from 0-100 km/h in 3.2 seconds. MG Motor also showcased three new EVs, including the MG Cyberster, boasting LED lights, scissor doors, and a dual motor variant with a 77 kWh battery pack.
Sajjan Jindal looks to recreate iconic 'Maruti Moment' with JSW MG India
JSW MG, led by Jindal, targets selling a million NEVs by 2030 with Mumbai announcement. Plans include SAIC deal, Odisha investment, and focus on green mobility amidst geopolitical tensions, Hector, Astor models.
MG Motor India anticipates accelerated growth path with JSW Group's investment, says CEO Emeritus Rajeev Chaba
MG Motor India is poised for rapid growth with the backing of JSW Group as an investor, according to CEO Emeritus Rajeev Chaba. The company has already established a strong foundation in technology, customer experience, gender diversity, and community service. Chaba expressed optimism about the future, stating, "Now with the investor coming in, definitely I would expect an accelerated growth path, and more aggressive expansion plans."
MG Motor to launch two cars in India this year, including an EV
This is part of an attempt by company to grab a bigger share of the EV market in the country. EVs are 25%-30% of the company total sales in India at present.
MG Motor India plans festive season launch for third electric car model amid growing market competition
MG Motor India is set to launch its third electric car model this festive season, aiming to strengthen its position in the growing electric vehicle market amidst competition from established and new rivals. The upcoming launch signifies the automaker's focus on expanding its operations in India, especially in the electric vehicle segment. Rajeev Chaba, chairman emeritus of MG Motor India, highlighted the importance of electric vehicles in the Indian market, with expectations that EVs will comprise 15-20% of all passenger vehicles sold by 2030.
CCI approves JSW's acquisition of up to 38% stake in MG Motor India
The Competition Commission of India (CCI) has granted approval for the JSW Group's plan to acquire a maximum of 38% stake in MG Motor India. The CCI stated that the acquirer, a newly established company, is a wholly owned subsidiary of JSW International Tradecorp Pte. Limited and is part of the JSW Group.
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