Indian investors led by JSW Group have acquired a majority stake in MG Motor India, forming a joint venture called JSW MG Motor India Pvt. Ltd. This development marks a shift in ownership from China's SAIC Motor Corp. Ltd., which now holds 49%.
The partnership aims to propel MG Motor's growth in India, leveraging JSW Group's expertise in manufacturing and green mobility initiatives. With plans for extensive localization and investment in EV technology, the joint venture signals a promising future for the automotive sector in India.