SAIC Motor, which markets cars under the MG Motor brand, and JSW Group on November 30 said they have entered into a strategic joint venture that will augment local sourcing, improve charging infrastructure, expand production capacity, and introduce a broader range of vehicles with a focus on green mobility.
According to the agreement, JSW will hold 35 percent in the Indian JV operations. SAIC will continue supporting the joint venture with advanced technology and products to deliver extraordinary mobility solutions with an unwavering focus on the Indian consumer.
The agreement was signed by the President of SAIC Wang Xiaoqiu and JSW Group’s Parth Jindal at the MG Office in London with the objective of accelerating the transformation and growth of MG Motor in India.
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"The automobile business is a global industry, and like in any other similar industry, access and collaboration are crucial for its healthy growth,” said Xiaoqiu. “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."
Jindal said the collaboration aims to grow and transform the MG Motor operations in India with a focus on green mobility solutions. The joint venture paves the way for bringing world-class technology-enabled
futuristic suite of automobile products including the new generation of intelligent connected EVs and ICE vehicles.
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