JSW Group Eyes Majority Stake in JSW MG Motor India Amid SAIC's Capital Pullback
- JSW Group aims to become the largest shareholder in JSW MG Motor India as SAIC Motor withdraws from further capital investment.
- SAIC will redirect investments to China and Europe but continue to provide technology and brand support to the JV.
- JSW MG is currently a 51:49 JV, with JSW holding 35%, SAIC 49%, and the rest owned by financial institutions, dealers, and employees.
The Sajjan Jindal-led JSW Group is looking to increase its stake in JSW MG Motor India and become the single largest shareholder, as Chinese partner SAIC Motor pulls back on capital commitments to the Indian venture.
According to a report by The Economic Times, SAIC Motor has decided to shift focus to its domestic market in China and expand in Europe, choosing not to invest additional capital in the Indian JV. However, the company will continue to support JSW MG through technology and brand licensing.
JSW MG Motor India, a joint venture between JSW Group and Shanghai-based SAIC Motor, was established in 2019 and is known for its range of passenger vehicles, including the Windsor EV, Comet EV, and Hector SUV.
Currently, JSW MG operates as a 51:49 joint venture, with JSW Group holding 35%, Indian financial institutions 8%, MG Motor India dealers 3%, and company employees 5%. The remaining 49% stake is held by SAIC Motor.
Parth Jindal, Director of JSW MG Motor India, confirmed the group’s intent to enhance its holding. The move could give JSW a controlling interest, positioning it to steer the company’s long-term growth in India's rapidly evolving EV and automotive market.
