Billionaire Sajjan Jindal–led JSW Motors is set to enter the Indian passenger vehicle market in June with the launch of a plug-in hybrid electric (PHEV) SUV.
According to sources, the upcoming model is expected to be priced at around Rs 45 lakh (ex-showroom). With this launch, the homegrown brand will step into the premium SUV segment, taking on global players such as BMW and Mercedes-Benz.
Until now, PHEV technology in India has largely been limited to luxury carmakers, making JSW Motors’ entry a significant development for the market.
JSW Motors first car will be manufactured at this plant.
Speaking to Moneycontrol, JSW Motors CEO Ranjan Nayak said that the company plans to enter the passenger vehicle segment with a hybrid model by the end of 2026.
JSW has confirmed that production of the SUV will take place at its new manufacturing facility in Chhatrapati Sambhaji Nagar, Maharashtra.
The company is also in talks with several international automotive players for potential partnerships, and agreements are expected to be finalized in the coming months.
Entry Made Through a Joint Venture
JSW Motors began its journey in the automobile space through a joint venture, marking its first step into the industry. This partnership helped the company gain technical expertise and understand the passenger vehicle market before planning its own independent product launches.
The JSW Group has a presence across multiple sectors, including steel, energy, infrastructure, ports and paints. It entered the automobile industry in 2023 by acquiring a stake in MG Motor India from Chinese automaker SAIC Motor.
Currently, JSW Group and Everstone Capital together hold a 51 percent stake in the company. Sajjan Jindal-led JSW is looking to further increase its share by buying additional stakes from SAIC. JSW MG Motor manufactures both electric and ICE vehicles and is now India’s second-largest EV maker after Tata Motors.
