JSW-MG Motor launches Hector Tomahawk as EV and PHEV

JSW-MG Motor, the joint venture between SAIC and JSW Group, has major expansion plans in the coming few months as they launched the first vehicle from their new ADAPT platform, the MG Hector Tomahawk.

The new electric vehicle has a starting price of Rs 13.99 lakh for the battery as a service (BaaS) and between Rs 19.49 lakh and Rs 22.99 lakh and is available in both 5 and 7-seat versions.

The vehicle features a 69-kilowatt-hour battery and claimed range of 517 kilometers with a 201-horsepower motor. A Plug-In Hybrid EV version was also launched with a claimed range of over 1100 kilometers on a single tank and full charge on its 20.5 kilowatt-hour battery.

A BaaS package starts at Rs 21.79 lakh and outright purchase prices are between 25.69 and 27.79 lakh.

Speaking with the media at the launch event in Mumbai, Parth Jindal, Director, JSW-MG Motor India, said that the company is planning a major expansion at the plant in Halol, Gujarat, from around 110,000 units currently to 160,000 units by March 2027 to 220,000 units by January 2018 and if demand is sustained a potential increase to 400,000 units.

“Our production has been achieving record numbers every single year since we established this joint-venture”, Jindal said while highlighting the potential of the new Hector Tomahawk, which was launched both as an electric vehicle (EV) and a plug-in hybrid electric vehicle (PHEV). While Jindal was bullish on PHEV and said this was the first PHEV to be made in India, he did highlight the potential for more growth if the government adjusts tax rates. “In China, EVs, PHEVs and Range Extended EV (EREV) are all taxed at a similar rate, which has spurred adoption of such vehicles; however, we believe that the government will encourage such vehicles in India as well.

Particularly EREV, where the battery powers the wheels”, he said and added that while their new ADAPT platform supports EREV, they will wait to see consumer interest before a potential launch.

Additionally, he highlighted the massive increase in demand for electric vehicles in India and said that while EV sales stood at eight percent of the market today, he expected EV sales to jump to 9-10 percent of the market by the end of the year as JSW-MG and other manufacturers all launch more EVs and support the building out of charger infrastructure.

“This platform has been developed keeping in mind a simple fact that an electric vehicle is not for everyone”, Anurag Mehrotra, Managing Director, JSW-MG Motor India, said, adding that the additional cost of the PHEV is only due to taxation reasons but all ‘New Energy Vehicles’ serve the purpose of reducing fuel consumption.

On the JSW Group’s other automotive plans, Jindal gave few insights into the talks with the Volkswagen Group, which have been rumoured but said that the plans to launch JSW’s own automotive brand remained on track for later this year, when it is expected that products from Chinese carmaker Chery’s Jetour brand will be brought to India. He also said that the plans for JSW to establish a cell plant in Odisha is currently on hold as China is “keeping LFP manufacturing technology close to their chest.” Jindal also said that while the JSW Group is in talks with SAIC for further investments in JSW-MG Motor, he believed that the current relaxation in Press Note 3 norms that restricted investments by Chinese companies in India was a good sign.

“Our current investment plans of Rs 3500 crore are on track and comprise a significant chunk of our investment in the partnership and the rest will use a combination of debt and equity.” He did not mention if SAIC (MG Motor) will be selling any more of their current 49 percent stake to JSW, which currently holds 35 percent of the company.