SAIC Motor and JSW Group have partnered to launch a new joint venture, named JSW MG Motor India Pvt Ltd.

Economy Business

SAIC Motor and JSW Group have partnered to launch a new joint venture, named JSW MG Motor India Pvt Ltd. Sajjan Jindal, the chairman of the JSW Group, announced the JV’s ambitious new plans at an event. The marque of MG Motor, whose portfolio includes the MG ZS EV, MG Comet, MG Astor and others in India, is owned by SAIC Motor. The JV is aimed at using SAIC Motor’s expertise in the auto sector and the JSW Group’s manufacturing experience in the country. The new JV will also focus on the emerging new energy vehicles (NEVs) in the country. The company plans on capturing 33% of the NEV market by 2030 and aims to sell 1 million EVs in 2030.


      The JSW Group recently received approval from the Competition Commission of India (CCI) to acquire a 35% stake in MG Motor India.

     

     

 

     


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