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<ul><li>On Wednesday, <keyword id="142901" type="General" weightage="20" keywordseo="saic-motor" source="Orion">SAIC Motor</keyword> and <keyword id="144036" type="General" weightage="20" keywordseo="jsw-group" source="Orion">JSW Group</keyword> made a grand announcement of their joint venture, <keyword id="21026216" type="General" weightage="100" keywordseo="jsw-mg-motor-india" source="Orion">JSW MG Motor India</keyword>.</li><li>The new company will launch its first car during the festive season and is set to launch two cars in 2024.</li><li>The company has claimed that it will launch a new car every three to six months in the country.</li></ul> Mumbai, March 20: Chinese auto giant SAIC Motor and Indian conglomerate JSW Group have partnered to launch a new joint venture, named JSW <keyword id="5287148" type="General" weightage="20" keywordseo="mg-motor" source="Orion">MG Motor</keyword> India. On Wednesday, Sajjan Jindal, the chairman of the JSW Group, announced the JV’s ambitious new plans at an event here. The marque of MG Motor, whose portfolio includes the MG ZS EV, MG Comet, MG Astor and others in India, is owned by SAIC Motor. <cmsannotation type="cmsannotation" annotationid="Leveraging the strengths" comment="subhead" text="Leveraging the strengths">Leveraging the strengths</cmsannotation> The JV is aimed at using SAIC Motor’s expertise in the auto sector and the JSW Group’s manufacturing experience in the country. JSW MG Motor India will produce both electric and internal combustion engine (ICE) vehicles. JSW Group will also bring in the expertise of its group companies, such as JSW Energy to improve its infrastructure in the country. The JSW Group recently received approval from the Competition Commission of India (CCI) to acquire a 35% stake in MG Motor India. Parth Jindal, son of Sajjan Jindal and Sangita Jindal, has been appointed as a member of the steering committee of JSW MG Motor India. <cmsannotation type="cmsannotation" annotationid="A new car every three to six months" comment="subhead" text="A new car every three to six months">A new car every three to six months</cmsannotation> Speaking about the company’s ambitious plans, Sajjan Jindal said that the company will launch a new car every three to six months in the country. The first launch from the company will arrive during the festive season, in October 2024. The company aims to launch two cars in 2024. The first launch from the company is expected to be the MG4, which was showcased at the event in Mumbai on Wednesday. JSW MG Motor India aims to expand its production from the present 1 lakh units per year to three lakh units per year. To achieve this, the company will expand its production capacity at its Halol plant in Gujarat. These cars will be manufactured in India for both domestic consumption and exports. In addition, the company will also set up a new research and development facility in the country, Jindal added. <cmsannotation type="cmsannotation" annotationid="JSW MG Motor India will create a NEV Maruti moment" comment="subhead" text="JSW MG Motor India will create a NEV Maruti moment">JSW MG Motor India will create a NEV Maruti moment</cmsannotation> Speaking about how Maruti dominated the Indian auto market by launching new cars in the 1990s, Sajjan Jindal said that JSW MG Motor India wants to create a Maruti moment for new energy vehicles in the country and lead the segment by 2030. The company has said that it will also foray into the premium vehicles segment in India. It showcased the <keyword id="9206504" type="General" weightage="20" keywordseo="mg-Cyberster" source="Orion">MG Cyberster</keyword> at the event and announced that the car would soon make its India debut. The new JV will also focus on the emerging new energy vehicles (NEVs) in the country. Parth Jindal said that the company plans on capturing 33% of the NEV market by 2030 and aims to sell 1 million EVs in 2030. India will move from its current market of 4 million cars per year to 10 million cars a year, as per Jindal. While MG Motor’s sales in India reported decent growth in February 2024, the company is not among the country’s top five players. The company sold 4,532 vehicles in February 2024. SAIC Motor is a global Fortune 500 company with annual revenues of around US $110 billion, while the JSW Group is one of India’s leading global business conglomerates with US $23 billion in revenues across diversified businesses. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/mobile-number-portability-revamped-to-reduce-sim-swap-frauds-here-are-the-new-rules/articleshow/108613683.cms">Mobile Number Portability revamped to reduce SIM swap frauds – Here are the new rules</a> <a href="https://www.businessinsider.in/business/auto/news/new-ev-policy-elon-musks-tesla-may-soon-enter-india-as-import-taxes-slashed-for-electric-vehicles/articleshow/108527306.cms">New EV Policy: Elon Musk’s Tesla may soon enter India as import taxes slashed for electric vehicles</a> <a href="https://www.businessinsider.in/business/auto/news/hyundai-creta-n-line-enters-indian-market-with-four-variants-starting-at-16-82-lakh/slidelist/108426938.cms">Launch alert: Hyundai Creta N Line enters Indian market with four variants, starting at ₹16.82 lakh</a>

JSW Group and SAIC Motor’s JV ‘JSW MG Motor India’ set to up production to 3 lakh vehicles a year with a new car every 3-6 months

JSW Infrastructure to come out with ₹2,800 crore IPO; third group company to go public

Sajjan Jindal-owned <keyword id="146214" type="General" weightage="100" keywordseo="jsw-infrastructure" source="Orion">JSW Infrastructure</keyword> has filed preliminary papers with capital markets regulator Sebi to raise up to Rs 2,800 crore through an initial public offering (<keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>) to retire debt and support its expansion plans. JSW Infrastructure will be the third company of the <keyword id="144036" type="General" weightage="80" keywordseo="jsw-group" source="Orion">JSW Group</keyword> to be listed on the bourses after JSW Energy and JSW Steel. The ports business of the JSW Group filed the DRHP on May 9. Going by the draft papers, the IPO is purely a fresh issue of equity shares with no offer-for-sale (OFS) component, and the promoters will not be diluting their current stake through the issue. The company will use the proceeds to retire its debt as well as to fund its capacity expansion projects, as per the draft red herring prospectus (DRHP). JSW Infrastructure has an installed cargo handling capacity of 153.43 million tonnes per annum (MTPA) for multi-commodity cargo including dry bulk, break bulk, liquid bulk, gases and containers. As of December 31, 2022, JSW Infrastructure had a net debt of Rs 2,875 crore. The company had a profit after tax (PAT) of Rs 447.2 crore in October-December 2022-23 and Earnings Before Interest, <keyword id="6368033" type="General" weightage="50" keywordseo="taxes" source="Orion">Taxes</keyword>, Depreciation, and <keyword id="990685" type="General" weightage="50" keywordseo="amortisation" source="Orion">Amortisation</keyword> (EBITDA) of Rs 1,268.6 crore. JM Financial Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, DAM Capital Advisors Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited are the book running lead managers. The equity shares are proposed to be listed on BSE and NSE. Besides, the Sajjan Jindal-owned JSW Group is also into cement, paints, venture capital and sports. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/receiving-calls-from-international-numbers-starting-with-254-84-63-report-and-block-say-experts/articleshow/100132580.cms">Receiving calls from international numbers starting with +254, +84, +63...; report and block, say experts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/ibm-partners-with-nasa-to-monitor-natural-disasters-and-climate-change-using-ai/articleshow/100132462.cms">IBM partners with NASA to monitor natural disasters and climate change using AI</a>

JSW Infrastructure files draft papers; eyes ₹2,800 cr via IPO

New Delhi, <keyword id="45609" type="General" weightage="20" keywordseo="JSW-Steel" source="Orion">JSW Steel</keyword> on Friday posted about three-fold jump in net profit at Rs 2,428 crore for June quarter 2023-24 on account of higher income. It had posted Rs 839 crore net profit in the corresponding period of 2022-23, JSW Steel said in a regulatory filing. Total income also rose to Rs 42,544 crore from Rs 38,275 crore in the year-ago quarter, it said. Expenses were at Rs 39,030 crore as against Rs 36,977 crore earlier. JSW Steel is the flagship business of diversified JSW Group, which has presence in sectors such as energy, infrastructure, cement, paints, sports, and venture capital. The company's board at its meeting held on Friday appointed Swayam Saurabh as Chief Financial Officer designate, it said.

JSW Steel Q1 2023-24 profit nearly triples to Rs 2,428 cr

<ul><li><keyword id="144036" type="General" weightage="70" keywordseo="jsw-group" source="Orion">JSW Group</keyword> is considering a foray into the manufacturing of EVs.</li><li>JSW Group company <keyword id="45609" type="DOMAIN" weightage="20" keywordseo="jsw-steel" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="jsw steel" meta.entityname="JSW Steel Ltd." meta.entityid="8352" meta.seoname="jsw-steel-ltd">JSW Steel</keyword> owns and operates a one million tonne per annum (MTPA) steel plant at <keyword id="6357470" type="General" weightage="20" keywordseo="salem" source="Orion">Salem</keyword> in <keyword id="20154" type="General" weightage="20" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword>. </li></ul>Sajjan Jindal-led conglomerate JSW Group is considering a foray into the manufacturing of electric vehicles, according to a top official of the group. "The group had examined EV manufacturing plans earlier also but now it is becoming attractive," JSW Group Chief Financing Officer Seshagiri Rao told PTI. The manufacturing of EVs is being discussed actively at the group level, he said while divulging JSW Group's plan to expand its presence into more sectors. The group is looking to manufacture four-wheelers, Rao said. When asked about details of the manufacturing location, he said it is yet to be decided. On the timeline for the launch of an EV manufacturing facility, he said, "it (plan) is at advanced stages." JSW Group company JSW Steel owns and operates a one million tonne per annum (MTPA) steel plant at Salem in Tamil Nadu. The company manufactures auto-grade steel at Salem plant and supplies the high-value steel to automobile companies including the EVs makers. Besides, the USD 22 billion group has a significant presence in sectors like energy, infrastructure, cement, paints, <keyword id="15308892" type="TOPIC" weightage="60" keywordseo="Venture-Capital" source="TOPIC" sourcekeytype="economy,investopedia" meta.keywordsubtype="null" meta.seopath="v/venture-capital" meta.entityname="Venture Capital" meta.hostid="153" meta.entityid="venture-capital">venture capital</keyword> and sports. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/ces-2023-dates-news-products-and-what-to-expect/articleshow/96591686.cms">All-new Apple CarPlay features to AI for automobiles — here are some car technologies expected to arrive in 2023</a> <a href="https://www.businessinsider.in/tech/news/ces-2023-dates-news-products-and-what-to-expect/articleshow/96591686.cms">CES 2023: Dates, news, products, and what to expect</a>

JSW Group mulls foray into EVs, to manufacture 4-wheelers

<keyword id="45609" type="General" weightage="100" keywordseo="jsw-steel" source="Orion">JSW Steel</keyword> on Friday posted a sharp 85.50 per cent fall in its December quarter consolidated net profit to ₹474 crore mainly on account of higher expenses. The firm had clocked a net profit of ₹4,516 crore in the year-ago period, it said in a regulatory filing. Total income during the October-December quarter of the ongoing fiscal rose to ₹39,322 crore from ₹38,225 crore a year ago. Expenses were also higher at ₹38,288 crore as against ₹31,986 crore. Part of the <keyword id="351399" type="General" weightage="50" keywordseo="o-p-jindal-group" source="Orion">O P Jindal Group</keyword>, <keyword id="144036" type="General" weightage="50" keywordseo="jsw-group" source="Orion">JSW group</keyword> has a presence in sectors such as steel, energy, infrastructure, cement and sports. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/how-to-use-drag-and-drop-photos-and-search-by-date-on-whatsapp/articleshow/97168020.cms">WhatsApp rolls out drag and drop and search by date feature to its iOS app — Here's how to use it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/swiggy-co-founder-says-over-hiring-a-mistake-as-he-fires-380-employees/articleshow/97171514.cms">Swiggy co-founder says over-hiring a mistake as he fires 380 employees</a>

You Searched For "jsw infrastructure" and got 6 results

JSW Group and SAIC Motor’s JV ‘JSW MG Motor India’ set to up production to 3 lakh vehicles a year with a new car every 3-6 months

Sourabh Jain

JSW Infrastructure to come out with ₹2,800 crore IPO; third group company to go public

Bhakti Makwana

JSW Infrastructure files draft papers; eyes ₹2,800 cr via IPO

PTI

JSW Steel Q1 2023-24 profit nearly triples to Rs 2,428 cr

PTI

JSW Group mulls foray into EVs, to manufacture 4-wheelers

PTI

JSW Steel Q3 net profit falls over 85 % to ₹474 crore

PTI

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