India’s JSW Group has announced a joint venture with SAIC Motor of China, aiming to develop the electric vehicle (EV) ecosystem and promote green mobility in India.
JSW Energy and SAIC Motor’s MG Motor are forming a joint venture to develop greener and smarter mobility products and services for MG in India. JSW will assist MG Motor in boosting its production capacity, extending its reach in India by increasing locally sourced auto parts, and expanding its charging infrastructure.
JSW will hold a 35 percent stake in the new Indian JV. SAIC already has a presence in India through its wholly-owned unit, MG Motor.
MG Motor entered the Indian market in 2019 with plans to invest around $650 million.
