JSW and SAIC Form Joint Venture in India for Green Mobility

The partnership aims to bolster the growth of SAIC's MG Motor in India amid increased scrutiny of Chinese investments.

Indian conglomerate JSW Group and China's SAIC Motor have formed a joint venture in India, focusing on green mobility and the development of the electric vehicle ecosystem.
JSW will hold a 35% stake in the new venture.
The joint venture will support the growth of SAIC's MG Motor in India by increasing locally sourced auto parts, expanding production capacity, and growing its charging infrastructure.
SAIC has faced challenges in growing its presence in India due to increased scrutiny of Chinese investments by the Indian government.
MG Motor entered India in 2019 with plans to invest about $650 million.