JSW's tie-up with MG Motor is a shot in the arm for India's fledgling electric vehicle industry
SAIC Motor and JSW Group finalise automotive JV ‘JSW MG Motor India Pvt Ltd’.JPG( (L-R- Mr Rajeev Chaba, CEO Emeritus of MG Motor India, Mr Sajjan Jindal, Chairman of JSW Group, Mr Parth Jindal, Member of Steering Committee of JSW MG Motor India JV)
If you can’t build it, it’s best to buy it. That’s the philosophy the JSW Group has adopted in entering India’s rapidly growing car market.
After months of negotiations, the company said it would enter into a wide-ranging tie-up with MG Motor to manufacture, market and distribute vehicles both for the Indian market as well as for exports. JSW will have a 35 percent stake in the joint venture. Crucially, the company gets access to MG Motor’s new powertrain technologies. It will also work towards setting up charging infrastructure across the country. Under the terms of the deal, JSW MG Motor India Pvt Ltd plans to launch a new vehicle every three to six months starting from the 2024 festive season.