JSW Group and SAIC join hands to usher in a new chapter in the Indian electric vehicle market - JSW MG Motor India joint venture is established

Indian steel giant JSW Group and SAIC Motor announced that they will jointly establish a joint venture - JSW MG Motor India. This cooperation has attracted much attention from the Indian and global automobile industries. The news on March 22 attracted widespread attention.

It is reported that the joint venture will be jointly invested by both parties with up to 1.5 billion US dollars, of which JSW Group will hold 35% of the shares, SAIC will hold 49% of the shares, and the remaining shares will be provided by local financial institutions, automobile It is jointly owned by dealers and some employees. This equity structure not only reflects the firm confidence of both parties in the joint venture, but also lays a solid foundation for the joint venture's stable development in the Indian market.

According to the editor’s understanding, JSW MG Motor India will focus on the local production and sales of MG brand electric vehicles in India, and plans to strengthen local procurement by building a strong supply chain system to further reduce costs and enhance product competitiveness. In addition, the joint venture has ambitious plans to launch a new product every three to six months to meet the growing demand for new energy vehicles in the Indian market. Within this year, the joint venture will launch two new electric vehicle products, demonstrating its strong research and development capabilities in the field of new energy vehicles.

JSW Group Chairman Sajjan Jindal is confident in this cooperation. He said that the group has been looking for the right time to enter the Indian automobile market, and the rise of new energy vehicles provides them with an excellent opportunity. He believes that with the technical advantages and market influence of the MG brand, the joint venture will achieve significant success in the Indian market. In terms of market competition strategy, Jindal believes that the joint venture can learn from Maruti Suzuki's successful experience and seize market share by quickly launching new models.

JSW MG Motor India is not only committed to achieving a leading position in the Indian new energy vehicle market, but also actively responds to the global call for carbon neutrality. The company plans to achieve carbon neutrality by 2029 and currently generates more than 60% of its renewable energy needs at its Halol manufacturing operations. In addition, the joint venture will also focus on creating a large number of jobs and cultivating talents in India. It plans to train 100,000 students and employees to equip them with the professional knowledge required for electric vehicles, autonomous driving and connected vehicle technologies. This move will not only help improve India's overall strength in the field of new energy vehicles, but will also inject new vitality into the sustainable development of the Indian economy.

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