[volkman10]

China's SAIC Motor & JSW Group announce a strategic Joint Venture (JV) to accelerate growth with focus on green mobility. JSW will hold 35% in the Indian JV operations for
MG Motor India.

[volkman10]

SAIC Motor and JSW Group announce a strategic JV:

Could be a game changing JV that is poised to unleash a flood of EVs from SAIC at very aggressive prices.




- Will also undertake multiple new initiatives including augmenting local sourcing, improving charging infrastructure, expansion of production capacity, and introducing a broader range of vehicles with a focus on green mobility.

-SAIC Motor and JSW Group will create strategic synergies by bringing together
resources in the field of automobiles and new technology

-JSW will hold 35% in the Indian JV operations.

- SAIC will continue supporting the joint venture with advanced technology and products to deliver extraordinary mobility solutions with an unwavering focus on the Indian consumer.

- The joint venture paves the way for bringing world-class technology-enabled futuristics suite of automobile products including the new generation of intelligent connected NEVs and ICE vehicles

-One of the key focus areas of this joint venture will be to pursue the development of the EV ecosystem and to take a leadership position in this space.

-The joint venture will optimize SAIC Motor’s vast automotive experience and technical expertise to demonstrate MG’s spiritual cores - globalization, digitalization, rejuvenation, and young attitude.

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[Aditya]

SAIC and JSW announce JV for MG Motor India | JSW to hold 35% stake - Posts moved to a new thread.

[AtheK]

Good news, MG had started really well but then had a spanner thrown in by government policies. They have a good array of products and with this they should be able to get more products into India.

The EV market might heat up and the chinese brand image will also get a bit diluted now with Indian company holding 35% stakes, this is good for both the market and for consumers.

[Nonstop-driver]

I think one of the most common reason people dont even consider MG is its Chinese parentage. Read this thread (Sub-20 lakh cars that don't reek of cost-cutting) and how Astor comes out as the common choice in its segment but the sales don't reflect that. This deal will definitely help in changing the perception, but the Company might need aggressive marketing to achieve that.

[volkman10]

JSW and MG Motor explore dual brand strategy as part of alliance talk.

Both companies are likely to steer two independent brands, while the M G brand will continue to build its presence with ICE and EV portfolio, a new brand steered by JSW Group will focus purely on EV and high-performance EVs.

M G Motor and JSW Group are exploring a twin-track approach - one to sustain with the M G brand which has established itself well in the Indian market - and the other is an all-new brand - which may be dedicated for EVs - something that JSW Group is keen on investing in.

As part of multiple scenarios - one thought is M G will continue to have both conventional internal combustion engine and EV portfolio, while a dedicated EV brand – is likely to offer high performance EVs will be steered by JSW Group - if the proposal goes through.

Both the brands are likely to have their dedicated management team to steer the growth for future. The decision on the same is likely to be taken in the coming few months and may be revealed over a period of time.

Interestingly, while the negotiations between JSW and M G Motors were ongoing – a team steered by JSW Group was also exploring technical alliances in China with the likes of Leap Motor, Changan and Great Wall for sourcing vehicle architecture and batteries.

JSW which starts with 35% will increase its stake over a period of time to hold a majority in the company in the next three to four years.

Ihe reason why the deal has not been concluded yet is due to negotiation on the valuation. M G Motor India is seeking a valuation of about $1 billion or about Rs 8000 to Rs 8500 crore for the stake sale, whereas JSW Group is keen on picking up the stake at a valuation of Rs 5000 crore to Rs 6000 crore.


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[FiatDiesel]

As an MG owner I am very happy with this news. My 2021 Hector exudes quality after 2.5 years 35K kms. No reeks, rattles or warranty claims as such & its cabin experience punches the segment above. It’s fantastic company with customer focus at its centre and now will be able to grow to bring more high quality products setting new benchmarks like it did with Hector.

I just hope JSW brings more value to the table and this marriage lasts long.

[Venkatesh]

Press Release

[Sedate driver]

Recent article https://www.team-bhp.com/forum/india...bvr-subbu.html (More car companies might exit India, only 7 or 8 will survive: BVR Subbu) made me a bit jittery as I got my Hector in 2022 only. This JV gives some confidence that MG is really serious about its India operations. The MG Hector as a car, exudes quality and comfort and really there is nothing for me to complain after running 32000 kms in 14 months.

[volkman10]

CCI approves JSW's acquisition of up to 38% stake in MG Motor India.

The Commission approved acquisition by JSW Ventures Singapore Pte. Limited (Acquirer), for up to approximately 38% of the share capital of MG Motor India Private Limited (Target). The Acquirer is a newly incorporated entity and is not engaged in any activities as on date. It is a wholly owned subsidiary of JSW International Tradecorp Pte. Limited and belongs to JSW Group

The joint venture will also work to develop the EV ecosystem and aims to take a leadership position in this domain, the company stated. The partnership, JSW added, will leverage SAIC Motor’s extensive automotive experience and JSW Group's extensive presence across Indian B2B and B2C sectors to establish a robust supply chain and create a sustainable automotive ecosystem in India.

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[volkman10]

JSW Group and MG Motor India to commence ₹5,000 crore joint venture on March 20.

The companies will unveil their roadmap for manufacturing and sales in India.

The partnership aims to scale up its manufacturing and retail footprint in India, with a total investment of around ₹5,000 crore. The companies will unveil their roadmap for manufacturing and sales in India.
In addition to this, private equity investor Everstone Capital has also acquired a stake in MG Motor's India operations.

Interestingly, MG Motor dealers and company employees could receive up to a 3-5% stake in the joint venture.


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