JSW GROUPS INKS PACT WITH PARENT COMPANY OF MG MOTORS
News: As per media sources, JSW group has entered into an agreement with SAIC Motors (parent company of MG Motors) to form a JV which will run Indian operations of MG Motors. JSW group will hold 35% stake in the said JV with SAIC Motors expected to provide technology support as well as new models especially in the E-mobility space.
Views: MG Motors for long has been wanting to expand its footprints in India but was starved of investments. With domestic heavyweight JSW group now along with it, it will have the requisite muscle power to make it big in the domestic passenger vehicle industry especially in the e-mobility/alternate fuel mobility domain wherein SAIC motors as a group possess wide model portfolio. Financials of the deal are still awaited.
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