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JSW gets 35% in JV with SAIC Motor
Hindustan Times
|December 01, 2023
The JSW Group on Thursday said it would own 35% in a newly created joint venture (JV) with SAIC Motor Corp. Ltd (which owns MG Motor India) that would focus on electric vehicles (EVS), with a plan to turn majority shareholder in two years.
JSW executives said the rest of the ownership of the JV has not been decided yet, but the JV would help transform MG Motor's operations in India as well. A JSW Group spokesperson did not comment on the value of the 35% stake.
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