India, March 20 -- JSW MG Motor India, the newly formed joint venture (JV) between ndian conglomerate JSW Group and China's SAIC, announced their EV offensive plans. Termed as MG Motor India 2.0, the new phase will focus on new energy vehicles (NEVs) alongside internal combustion engine (ICE) vehicles. To fuel this plan, the JV announced an investment of Rs.5,000 crore to enhance production capacity and launch a new car every 3-6 months starting September.

The joint venture aims to create a "Maruti moment" in the new energy vehicle segment, targeting to sell one million units of passenger electric vehicles in India by 2030, when the total market is expected to reach 10 million units annually.

"We will set up a second plant in Halol as w...