In Short:
JSW MG Motor India is entering the luxury car market with ‘MG Select,’ aiming to offer accessible luxury experiences for everyday customers. They plan to launch their first luxury car by March 2025, with more to follow, including sedans and electric vehicles. The company promotes battery-as-a-service (BaaS) to lower ownership costs, making electric vehicle adoption easier and more appealing.
JSW MG Motor India Enters the Luxury Car Market with ‘MG Select’
In an exciting development, JSW MG Motor India has recently unveiled its plans to dive into the world of luxury cars with its new initiative, MG Select. The company aims to redefine what luxury means by making it accessible to a broader audience, all while creating a unique market for mass customers.
Redefining Luxury Standards
Gaurav Gupta, the Chief Growth Officer at JSW MG Motor India, shared insights on this ambitious venture in an interview with businessline. He stated, “Our approach of accessible luxury will not only play to the price point but also the overall package itself.” Gupta emphasized the significance of providing not just a product but a complete ownership experience. This includes features like the innovative battery-as-a-service model introduced in the Windsor electric car, which enhances the luxury ownership experience.
A Promising Launch Timeline
Excitingly, the first luxury car from this initiative is set to hit the market by March 2025, with an additional vehicle to follow within the same year. Over the next two years, JSW MG plans to introduce four new vehicles, including sedans, expanding their current portfolio.
Diverse Offerings in New Energy Vehicles
Gupta noted, “We will have products which will be based on new energy vehicles (NEVs) – plug-in hybrids, electric, and hybrids – featuring various body styles such as SUVs and sedans.” The company aims to target 12 cities in its first year, establishing standalone centers that would be the go-to spots for luxury car enthusiasts.
Meeting the Demands of the New-Age Consumer
With the launch of MG Select, the company is set to leverage its existing customer base while providing a broader range of choices for the new-age Indian consumer who craves a personalized and exclusive luxury experience.
Encouraging Electric Vehicle Adoption
When discussing electric vehicles (EVs), Gupta acknowledged the government’s positive stance, particularly with tax incentives and local registration fee waivers in certain states. He underlined that the battery-as-a-service (BaaS) model is a crucial step toward encouraging broader EV adoption. He explained, “This is about bringing the cost of acquisition lower… it is to help address the issue of acquisition price.”
Cost-effective Solutions for Customers
Gupta further elaborated on the benefits of the BaaS initiative, stating that it helps align electric vehicles’ running costs with traditional internal combustion engine (ICE) cars. He noted that while technological advancements are reducing battery costs, barriers still exist, and through this model, MG is working to make EVs more financially viable for consumers.
Exciting New Offerings
In addition to the Windsor, the company has also implemented the BaaS model on the Comet and ZS EV. The Comet starts at an attractive ₹4.99 lakh + battery rental at ₹2.5/km, while the MG ZS EV is priced at ₹13.99 lakh + battery rental at ₹4.5/km, along with a 60% assured buyback after three years on all vehicles.
With these innovative strategies and product offerings, JSW MG Motor India is paving the way for a new era of luxury automotive experiences.
