Parth Jindal appointed chairman of JSW MG Motor India amid expansion plans

JSW MG Motor India has appointed Parth Jindal as chairman with immediate effect, as the automotive joint venture between India’s JSW Group and China’s SAIC Motor moves ahead with major investments in production capacity, localisation and new-energy vehicles.

The company’s board announced the appointment on 31 August. Jindal has served on the board since the joint venture was established and has been involved in product strategy, manufacturing expansion and localisation.

The appointment is also notable from the perspective of parent company JSW Group, one of India’s largest steelmakers. Jindal is the son of JSW Group chairman Sajjan Jindal and already holds several senior positions within the group, including managing director of JSW Cement and JSW Paints, chairman of JSW Dulux and a directorship at JSW Energy.

Capacity at Halol plant to double

Jindal takes the chairmanship as JSW MG Motor India prepares a substantial expansion of its manufacturing operations.

The company and its suppliers are investing around INR 60 billion (€580 million) in the expansion of the Halol plant in Gujarat and related operations. Of this, around INR 35 billion is being invested by JSW MG Motor India and approximately INR 25 billion by suppliers.

Annual production capacity at Halol currently stands at around 110,000 vehicles. The company plans to raise this to 160,000 units by March 2027 and 220,000 vehicles by January 2028. Longer term, the existing site could accommodate production of around 400,000 vehicles per year.

The expansion is accompanied by efforts to increase local sourcing and broaden the company's range of electric and hybrid vehicles. JSW MG Motor India says it has sold more than 150,000 electric vehicles since entering the segment.

JSW considering larger stake

Jindal’s appointment also comes as JSW Group and SAIC discuss the future ownership structure of their Indian automotive business.

SAIC currently owns 49% of JSW MG Motor India, while JSW holds 35%. The remaining shares are held by Indian financial institutions, dealers and employees. JSW has confirmed that discussions with SAIC over a possible additional stake are continuing, but said no agreement has yet been reached.

The automotive business represents another downstream growth area for the wider JSW industrial group. Alongside the MG joint venture, JSW is developing an independent passenger-vehicle business, while its core operations remain centred on steel, energy, cement and other industrial activities.

Source and Photo: JSW