JSW Group partners SAIC Motor to acquire 35% stake in MG Motor India
Sajjan Jindal-led JSW Group has entered into a joint venture with Chinese automotive major SAIC Motor to pick up 35 percent stake in MG Motor India.
The partnership aims to create strategic synergies by bringing together resources in the field of automobiles and new technology. The JV will also undertake multiple new initiatives including augmenting local sourcing, improving charging infrastructure, expanding production capacity, and introducing a broader range of vehicles with a focus on green mobility. The Chinese auto major will continue supporting the JV with advanced technology and products to deliver mobility solutions in the Indian market.
