JSW MG Motor India Pvt. Ltd, the joint venture between China’s SAIC Motor Corp. Ltd and India’s JSW Group, emerged as the second-largest seller of luxury electric vehicles (EVs) in India in 2025-26.
JSW’s luxury EV chain, MG Select, saw sales pick up to about 2,029 cars on the back of its exclusive luxury outlets and products gaining traction, against market leader BMW’s 3,500 sales, according to the carmaker’s sales data.
A pickup in sales of luxury vehicles—defined as those priced above ₹50 lakh—would come as a reprieve for the brand, as losses at the joint venture doubled in 2024-25 to exceed ₹1,000 crore, even as revenue crossed the $1 billion mark.
The performance was driven by JSW MG Motor’s move to join Toyota Kirloskar Motor in adopting separate mass-market and luxury retail networks for its brands in the domestic market—a playbook Motors Passenger Vehicles Ltd and Motor India Ltd are likely to replicate when they introduce their luxury brands, Avinya and Genesis, by 2027.
“We entered the premium EV market with an all-new channel. Just setting up a channel, getting the product through is a herculean task,” Anurag Mehrotra, managing director at JSW MG Motor India, told Mint in an interview earlier.
“We’ve become the number two premium EV brand in the country, a little bit behind the leading player. I’m sure once we announce the products that we are bringing in this year. We should be able to catch up,” he added.
Currently, JSW MG Motor sells two luxury EVs—the MG Cyberster and the MG M9—through its exclusive network, both priced above ₹70 lakh. Both these luxury EVs are sold only through MG Select stores starting in August 2025.
The carmaker’s playbook of separate retail chains for its mass-market and luxury cars mimics the strategy of two-wheeler makers such as Hero and Bajaj, which have dedicated stores for their premium vehicles. The country’s largest carmaker, Maruti Suzuki India Pvt. Ltd, also has two separate retail channels for its premium and non-premium offerings.
In response to Mint’s queries, Mehrotra said that a clear bifurcation of brand and retail experience is critical to unlocking growth in the luxury EV segment. “The dedicated retail architecture, separate from our mainstream network, has been a meaningful driver in establishing us as the #2 player in India’s luxury EV market. The MG Cyberster and MG M9 address distinct needs within the luxury space, yet both demand a retail environment that reflects their standing,” he said.
Profit margin battle
The bullish commentary from car and bike makers on the premium and luxury space, along with a push to execute a luxury strategy, comes as they look to expand their portfolios and enter segments where they can boost profit margins.
While have picked up in the country, with 84% growth to 199,923 units and 4.2% penetration, luxury players such as BMW have seen EVs account for more than 20% of their total sales.
JSW MG Motor also saw sales jump to more than 2,000 EVs within eight months of launching its luxury EVs. It continues to double down on its luxury EV strategy, launching another product in 2026 as part of its broader product offensive to expand its line-up in the Indian market.
In 2025-26, JSW MG Motor, in which SAIC holds 49%, JSW 35% and employees, dealers, and financing firms the rest, recorded more than 72,925 sales, up 17% year-on-year.
Experts say the carmaker’s efforts are in line with the way the luxury segment is evolving.
“India’s premium EV segment is at its inflexion point and is poised for strong expansion over the next few years, with upcoming entries like Tata’s Avinya and Hyundai’s Genesis further elevating the competitive landscape. MG, however, has taken an early lead with its ‘MG Select’ initiative, positioning itself as a first mover in a luxury-focused EV ecosystem,” Puneet Gupta, director at S&P Global Mobility, said.
“Backed by SAIC’s global portfolio and scale, MG has a structural advantage in introducing a diverse pipeline of premium EVs. If executed consistently, MG Select could emerge as a strong differentiator in India, helping the brand carve out a niche experience for its customers,” he added.