JSW MG Motor India to Launch 4 New SUVs in 2026, Plans ₹5,000 Crore Investment to Boost Capacity to 3 Lakh Units

JSW MG Motor India Unveils Five-Year Growth Plan​

JSW MG Motor India is preparing for its next phase of expansion with an ambitious five-year roadmap that includes launching four new SUVs in 2026 and scaling up annual production capacity to 3 lakh units.

Managing Director Anurag Mehrotra said the company has drawn up a structured growth plan aimed at significantly expanding volumes and strengthening its presence in the Indian passenger vehicle market.

“As we are preparing for the next phase, we have created a five-year plan. The five-year plan talks about growing volumes to about 3 lakh units,” he said.

₹4,000 to ₹5,000 Crore Capex for Expansion and Localization​

As part of the expansion strategy, the company plans to invest between ₹4,000 crore and ₹5,000 crore. The capital expenditure will be directed toward plant expansion, new product development, and deeper localization of components.

The company’s Halol plant in Gujarat currently has an annual production capacity of 1.2 lakh units. The expansion is expected to take approximately 18 months to complete.

The investment will focus on three core areas:

• Expansion of manufacturing capacity
• Introduction of new products
• Increased localization to strengthen domestic value addition

On funding, the company is evaluating multiple options, including internal accruals and external funding routes.

Four New SUV Launches in 2026​

JSW MG Motor India has already unveiled its premium SUV MAJESTOR, which is expected to be launched in April or May this year. The model will compete in the premium SUV segment against established players such as the Toyota Fortuner.

In addition to MAJESTOR, the company plans to introduce three more SUVs within the same calendar year. All four upcoming products will be SUVs.

Notably:

• Three models will be launched under the MG channel
• One model will be introduced through the premium retail chain MG Select
• The remaining three products, excluding MAJESTOR, will be new energy vehicles
• One of these new energy vehicles will be a plug in hybrid

The focus on new energy vehicles underlines the company’s strategy to strengthen its position in the evolving electric and hybrid vehicle segments.

Industry Growth Outlook and EV Penetration​

On the broader industry outlook, the company expects double digit growth in the passenger vehicle segment, supported by GST rationalization and the base effect from the first half of 2025, when growth was muted.

The electric vehicle segment is also projected to expand further. EV penetration, which stood at 4.5 percent in 2025, is expected to rise to around 7 to 8 percent in 2026.

Strategic Push for Long-Term Growth​

The expansion comes after the joint venture between China’s SAIC Motor and India’s JSW Group announced in 2024 that it would invest ₹5,000 crore to enhance production capacity and launch one new car every three to six months.

With a clear focus on SUVs, new energy vehicles, and manufacturing scale up, JSW MG Motor India is positioning itself to capture the next wave of growth in India’s passenger vehicle market.