JSW Partners With SAIC To Expand MG Motor’s Operations In India
JSW will hold a 35 percent stake in this joint venture for Indian operations with SAIC Motor
SAIC will support the venture with advanced technologies and products.
The partnership scope includes growing the charging infrastructure and production capacity.
Both SAIC and JSW will work closely together for the development of new connected EVs and ICE vehicles.
MG Motor’s parent company, SAIC Motor, has announced a strategic joint venture with JSW (Jindal South West) to expand MG’s operations in India. The agreement between the two companies was signed by SAIC's President, Wang Xiaoqiu, and JSW Group's Parth Jindal at the MG office in London on Thursday.
JSW will hold a 35 percent stake in this joint venture, while SAIC will support it with advanced technology and products. The partnership aims to undertake multiple new initiatives for the Indian auto market, including local sourcing, improving charging infrastructure, expanding production capacity, and developing and introducing new vehicles with a focus on green mobility.
SAIC and JSW will also work together to create a smart and sustainable automotive ecosystem in India by developing new connected EVs and ICE vehicles. The JV is meant to optimise the automotive expertise of SAIC for new models, and leverage the JSW Group’s presence in the B2B and B2C sectors to establish a robust supply chain.
Commenting on the partnership, Wang Xiaoqiu, President of SAIC Motor, said " SAIC has always adhered to the 'win-win cooperation' approach while steadily improving our core capabilities and expanding our scale of production and sales. In the growing Indian automotive market, both partners shall work closely to bring in the best of innovation, in creating greener and smarter mobility products and services for our consumers, seizing market opportunities, continuously expanding the brand influence and market share of our products, and achieving greater success for MG in India."
Meanwhile, Parth Jindal of the JSW Group stated at the time of the announcement, “One of the key focus areas of this joint venture will be to pursue the development of the EV ecosystem and to take a leadership position in this space. We would like to thank SAIC and MG Motor for choosing JSW as their partners of choice and look forward to building one of India’s largest automobile companies together."
MG Motor currently retails 6 models in India – MG Astor, MG Hector, MG Hector Plus, and MG Gloster; and 2 EVs – MG Comet EV and MG ZS EV. The Hector and Hector Plus mid-size SUVs have recently received a price hike as well, and you can click on this link to check their variant-wise prices.
Read More on : Hector on road price
0 out of 0 found this helpful