JSW & SAIC announce JV to develop the Electric Vehicle in India

JSW Group and China-based SAIC Motor have joined forces in a strategic joint venture (JV) aimed at advancing the electric vehicle (EV) ecosystem and promoting sustainable mobility in India.

This collaborative effort between the two entities will be dedicated to the development of environmentally friendly and intelligent mobility solutions for MG Motor in India. Under the newly established JV, JSW will play a pivotal role in bolstering SAIC's MG Motor production capacity.

This involves an expansion of localized sourcing for automotive components and the enhancement of charging infrastructure to facilitate the growth of green mobility.

As part of the agreement, JSW will secure a 35 percent ownership stake in the newly formed Indian JV. Notably, SAIC Motor already maintains a presence in the Indian market through its wholly-owned subsidiary, MG Motor, which entered the Indian automotive landscape in 2019 with an ambitious investment plan totaling around USD 650 million.

News by Rahul Yelligetti