Automotive | Electric Mobility | Partnership and Collaboration
JSW Group and MG Motor announced a joint venture to manufacture electric vehicles in India. The JV aims to sell 10 lakh electric vehicles by 2030 and will invest Rs. 5,000 crore to boost production capacity. The collaboration is expected to increase MG Motor's annual production capacity from 100,000 to 300,000 units.
NotesHad someone mentioned these numbers even a couple of years back, he would have been met with a mountain of scepticism. But going by the healthy trend in Indian EV sales post COVID, who knows, these numbers could be even surpassed!
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