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MG Motor Windsor EV: All you need to know about the battery subscription plan

Money Control

Money Control · 10m ago

MG Motor Windsor EV: All you need to know about the battery subscription plan

JSW MG Motor India is launching a Battery-as-a-Service (BaaS) offering, allowing customers to pay for battery usage separately from the initial vehicle cost. The cost starts at ₹3.5 per km, excluding charging cost. There are no additional charges except for a nominal charging cost of around Rs1 per km. The program also offers easy exit options through financiers. Additionally, JSW MG Motor India is introducing a 3-60 assured buyback plan, ensuring the Windsor model retains 60% of its value after 3 years/45,000kms. Battery rentals include both interest and principal components.

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JSW Group to increase stake in JSW MG Motor India amid SAIC's exit from Indian Market

Economic Times

Economic Times · 1m ago

JSW Group to increase stake in JSW MG Motor India amid SAIC's exit from Indian Market

JSW Group plans to increase its stake in JSW MG Motor India, a joint venture with SAIC Motor. SAIC is prioritizing investments in China and Europe, reducing focus on India. JSW aims to become the largest shareholder in the venture, which manufactures the Hector SUV and Windsor EV. Additionally, JSW is pursuing licensing agreements with Chinese automakers to boost its electric vehicle offerings, focusing on localization amid geopolitical tensions with China.

MG Motor India signs pact with Vertelo to deliver 3,000 EVs

Money Control

Money Control · 1y ago

MG Motor India signs pact with Vertelo to deliver 3,000 EVs

MG Motor India has signed a memorandum of understanding with integrated fleet electrification platform Vertelo to deliver 3,000 electric vehicles (EVs) in a phased manner. The partnership aims to provide sustainable mobility solutions and establish a robust EV charging infrastructure in India. Vertelo, a fleet electrification platform backed by Macquarie Asset Management and the Green Climate Fund, plans to purchase around 3,000 electric cars from MG Motor India to accelerate fleet electrification and achieve net-zero emissions. MG Motor India's current EV lineup includes the Comet and ZS EV.

Intend to move away from conventional vehicles, focus on NEVs: JSW MG Motor Director Parth Jindal

Money Control

Money Control · 10m ago

Intend to move away from conventional vehicles, focus on NEVs: JSW MG Motor Director Parth Jindal

JSW MG Motor India is shifting its focus towards new energy vehicles (NEVs) and aims to move away from conventional internal combustion engine vehicles. Parth Jindal, company Director, stated that NEVs will be the cornerstone of MG going forward, with a target of over 50% of total sales coming from electric vehicles by 2024. The company recently launched its electric crossover utility vehicle, MG Windsor. It plans to introduce a new car every four to six months and aims to avoid traditional ICE vehicles, although it may consider certain models if the technology has not yet developed.

JSW Group-MG Motor venture aims to sell 1 mn EVs by 2030

VCCircle

VCCircle · 1y ago

JSW Group-MG Motor venture aims to sell 1 mn EVs by 2030

The joint venture between JSW Group and MG Motor aims to sell one million electric vehicles in India by 2030. The companies plan to enter the premium passenger vehicle segment. MG Motor already has two electric car offerings in India. This announcement comes after India lowered import taxes on certain electric vehicles, encouraging carmakers to invest and manufacture domestically. This move benefits Tesla, which plans to enter the Indian market. Electric cars currently represent about 2% of total car sales in India, but the government has set a target of 30% by 2030.

In a First, Share of Electric PVs Crosses 4% mark: Fada

OutlookIndia

OutlookIndia · 2m ago

In a First, Share of Electric PVs Crosses 4% mark: Fada

In May 2025, electric cars accounted for 4.1% of passenger vehicle sales, up from 3.5% in April and 2.6% a year earlier, marking a milestone in the electric vehicle (EV) sector's growth. This surge is attributed to advancements in battery technology, improved range, and lower costs. However, supply chain issues due to China's export restrictions on rare earth magnets could pose challenges. Tata Motors led the market, with JSW MG Motor showing significant growth.

MG Motor to assemble batteries at Halol plant

Thehindubusinessline

Thehindubusinessline · 1y ago

MG Motor to assemble batteries at Halol plant

MG Motor India is considering the assembly of batteries for electric vehicles at its Halol manufacturing plant. The company is also exploring the possibility of battery cell manufacturing with third parties. Additionally, MG Motor India plans to expand its Halol plant in response to increasing demand. Last year, the company announced a ₹5,000 crore investment for plant expansion and hiring. The company aims to establish a second manufacturing unit in Gujarat, increase its overall production output, and further strengthen its position in the electric vehicle market.

Exclusive: MG Motor India set to bring private equity fund to its captable

VCCircle

VCCircle · 1y ago

Exclusive: MG Motor India set to bring private equity fund to its captable

MG Motor India is reportedly planning to bring a private equity fund on board as a new investor. The move comes as MG Motor's parent company, SAIC Motor, seeks to divest its stake in the Indian automaker. SAIC Motor, which is China's largest automaker and the tenth largest globally in terms of revenues, recently partnered with JSW Group to facilitate the divestment process. Details about the private equity firm and the terms of the investment have not been disclosed yet.

Vidyut raises $2.5 Mn to expand battery-as-a-service financing biz

Entrackr

Entrackr · 5m ago

Vidyut raises $2.5 Mn to expand battery-as-a-service financing biz

Snippets Vidyut raises $2.5 Mn to expand battery-as-a-service financing biz Bengaluru-based full-stack electric vehicle (EV) ecosystem platform Vidyut has raised $2.5 million in funding from global fintech investor Flourish Ventures. To date, Vidyut has raised over $16.5 million from 3one4 Capital, Credit Saison, Flourish Ventures, Zephyr Peacock, Lighthouse Canton, and other prominent investors. The firm concluded its $10 million Series A round in February last year. The funding will fuel the expansion of Vidyut's battery-as-a-service (BaaS) offerings in both passenger and commercial EV segments. This investment reinforces Vidyut's mission to accelerate India's clean energy transition by making EV ownership accessible and affordable for SMBs, the company said in a press release. Founded in 2021 by ex-Swiggy and Bounce executives Xitij Kothi and Gaurav Srivastava, Vidyut revolutionized commercial EV financing. By unbundling batteries from EVs and offering them on a pay-per-km subscription basis, Vidyut reduced upfront three-wheeler (3W) EV costs by 35-40%, making them significantly cheaper than ICE vehicles from day one. In 2023, Vidyut expanded its offerings to include EV resale and lifecycle management solutions, a move that has seen rapid customer adoption and market traction. In September 2024, the company entered the passenger EV market through a partnership with JSW MG Motor India, marking India's first BaaS model for four-wheelers that cuts upfront vehicle costs by 30%. With key industry partners such as TATA Motors, JSW, MG Motor India, Mahindra Last Mile Mobility, Piaggio, and Euler Motors, along with a strong distribution network spanning 30 cities, Vidyut has enabled micro-entrepreneurs and fleet operators to embrace sustainable choices while boosting their earnings by 10-15% through EV adoption. "With proven unit economics, strong 15% month-on-month growth, and long-term OEM partnerships, this investment will help us scale our innovative financing and lifecycle solutions across new vehicle segments," said Xitij Kothi. The Bengaluru-based company also launched an EV resale platform for the three-wheeler commercial vehicle segment, which manages the entire process—from inspection and valuation to sale and RTO documentation. According to the company, this new platform has streamlined the resale process for commercial EV owners and has helped customers realize up to 10-15% higher returns than ICE counterparts in secondary markets. In the electric vehicle financing space, Vidyut competes with Revfin, Finayo, Mufin Green Finance, OTO, Evfin, and Hero FinCorp, among others.

JSW Group, MG Motor India to roll-out first model under new JV

Thehindubusinessline

Thehindubusinessline · 1y ago

JSW Group, MG Motor India to roll-out first model under new JV

MG Motor India, in a joint venture with JSW Group, is set to launch its MG5 sedan in India on March 20. The event will also mark JSW Group's acquisition of a 38% stake in MG Motor India, as well as an announcement about future investments in the automobile venture. While SUVs dominate the Indian market, MG's decision to introduce a sedan reflects a unique approach. The MG5 offers style, comfort, and practicality, aiming to appeal to buyers seeking a well-equipped car with a dynamic driving experience.

Startup Lingo – 101 Terms You Need to Know (From A to Z)

Internet

Internet · 3m ago

Startup Lingo – 101 Terms You Need to Know (From A to Z)

Whether you're building on your first startup idea or are a seasoned entrepreneur, there's a good chance you will come across a startup term or phrase you're either unsure of or just need to double-check. We are here to get you up to speed and help decipher all things startup. This definitive word list has everything you need to know to help you on your startup journey. Have this list with you, and you'll always have a reference to be on top of all the jibberish startup lingo 🚀

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