The evolving EV landscape has seen JSW MG Motor India’s rise in the new energy vehicle segment. Rajeev Chaba, CEO emeritus, speaks with Nitin Kumar about how stable policies and technological advancements played a role. He also shared his insights on Tesla’s India entry and MG’s upcoming plug-in hybrid launch. Excerpts:
MG’s EV market share has risen from 20% in 2019 to 41% now. What drove this growth, and what is your EV target for 2025?
Our brand stands on four pillars: technology & innovation, customer service, diversity, and community service. Our USP is introducing the best global technology to India. The Hector launched ‘Internet Inside,’ and in 2020, we brought the ZS EV, India’s first true electric passenger vehicle. This was planned in 2018, when EVs were barely a conversation in India. The Comet and Windsor followed, addressing different price segments. Our commitment is clear: leading the NEV segment with compelling products. The Windsor’s success proves it — it is India’s number one EV. By 2025, we expect 60% of our sales to be EVs. We’re expanding our plant capacity to 300,000 units, with 60–70% dedicated to NEVs (EVs and hybrids).
With industry forecasts predicting only 1–2% growth next year, can MG defy the trend?
Absolutely. We anticipate double-digit growth, even if the overall industry grows in low single digits, thanks to new launches and the continued success of legacy products like the ZS EV and Comet.
With established automakers entering the EV space, does MG face heightened competition?
Competition is welcome. It grows the ecosystem. This concern would only be valid if the market were saturated, which it is far from being.
What are the pre-booking numbers for the M9 EV and Cyberster EV?
While I can’t disclose exact figures as we finalise the launch, pre-bookings are three times our expectations. We’re targeting an MG Select launch between April and June.
Will MG leverage the new EV policy to launch its international models in India?
Our goal is local manufacturing and increased localisation. We will assess how best to leverage the policy, but it’s still under review.
Do you think Tesla will bring to India a vehicle priced at $25,000?
Tesla’s entry would spark more EV discussions, which is great. However, Tesla’s current cheapest car costs $35,000, which, after duties, would be priced around Rs 50 lakh in India. That segment has a market of about 70,000 units. Tesla can expand the market, but its share will remain niche.
A $25,000 Tesla could achieve decent volumes but nothing close to what we see in Europe, China, or the US.
What’s your stance on EV incentives?
The objectives are clear — reducing imports, protecting the environment, and making EV ownership affordable. Long-term, stable policies are essential. The government is committed to EVs, and significant investments are in progress. With just a 2.5% market share today, we need long-term support, especially stable GST policies, until EVs hit a 15–20% tipping point. State-level incentives are helpful but are short-term measures.
What about incentives for hybrids?
The term hybrid is often misused. There are mild, medium, strong, and plug-in hybrids. Policymakers must differentiate these technologies to make informed decisions. Simply improving engine fuel efficiency isn’t enough for environmental benefits. Plug-in hybrids act as a bridge. If a car has a minimum electric range of 100 km, 80–90% of urban driving (typically 50–60 km daily) can be done on electricity. Incentives should be focused on hybrids capable of operating in full EV mode for at least 100 km.
What kind of incentives should be considered?
The 5% GST incentive is beneficial. A bonus like FAME would be great, but even without one, we appreciate the existing GST support.
When will MG launch its plug-in and strong hybrids?
We have the technology, and plug-in hybrids are crucial to our electrification strategy. We hope the government acknowledges their value. We plan to launch a plug-in hybrid next year, allowing consumers to experience its benefits firsthand.
