SAIC Motor’s joint venture in India, JSW MG Motor, plans to invest up to US$440 million to expand its factory and introduce new hybrid and EV models, according to its managing director.

The company aims to increase its annual production capacity from 120,000 to 300,000 units over the next few years. The investment will cover the launch of three to four new vehicles this year and will be funded through a combination of internal funds, debt, and equity.