JSW MG targets top spot in India's luxury EV market in 2026

Kolkata: JSW MG Motor India is eyeing the number one position in the country's luxury electric vehicle (EV) segment, banking on technological innovation, product launches and a shift in consumer preferences, a senior company official said on Wednesday.

The company has already emerged as the second-largest player in India's luxury EV market and aims to take the top position by 2026, he said.

"The Indian luxury car market is about 700 units a month. Our aim is to be number one in both luxury and mass categories. The luxury EV market is evolving fast, and our target is to become the number one player in 2026. In September, we sold 213 units," Milind Shah, Head of MG Select, told PTI on the sidelines of the launch of its experience centre in Kolkata, the first in the eastern region.

MG Select is a designated retail channel and showroom network for luxury cars under the MG brand.

Based on current industry volumes, reaching 350-plus units per month would help the company achieve the goal, he said.

Shah said new generation buyers are driving demand for innovation, sustainability, and technology.

"The Indian luxury car market has a significant gap in the Rs 50 lakh to Rs 1 crore price range, especially between Rs 50 lakh and Rs 80 lakh. MG is uniquely positioned to fill that space through its value-luxury proposition," he said.

According to him, consumers are earning more and spending more, but they seek meaningful and value-driven experiences.

“We are responding to this with technology-led, sustainable, and distinctly designed products made globally, but tailored for India," he said.

Shah said the company has two luxury models and is also working on a third one to expand the MG Select portfolio in 2026.

Kolkata, which accounts for about two per cent of India's luxury car market, is emerging as a key growth region for MG, said Aryaman Thakker, Group Landmark director and dealer principal of MG Select.