Overview
- The Halol plant in Gujarat will expand from roughly 110,000–120,000 units a year to 300,000, with upgrades to paint and body shops.
- Three to four model launches are slated for 2026, including one battery electric vehicle and one plug‑in hybrid, with additional new models beginning in 2027.
- Management targets new‑energy vehicles to account for 75%–80% of the business, maintaining NEVs as the core of the portfolio.
- The company will fund the initial phase from internal accruals, with debt or equity financing under consideration for later stages.
- JSW MG remains loss‑making, reported a $121 million loss in FY25, is increasing local sourcing to lower costs and FX risk, and grew 2025 sales to 70,500 with about 30% share of India’s EV market.