SAIC Motor and JSW Group Forge Strategic Alliance for Advancing Green Mobility Growth
SAIC Motor and JSW Group are teaming up in a big way to change how cars are made and used in India. SAIC Motor is a huge global company that makes about $110 billion a year, and JSW Group is a big Indian company making around $23 billion a year in lots of different areas.
They made a deal at the MG Office in London where SAIC’s President Wang Xiaoqiu and JSW Group’s Parth Jindal signed some important agreements. This collaboration is all about boosting MG Motor’s growth in India.
They want to work together to use their skills and money to make better car technology. Their plan is to team up and improve things like getting parts locally, making more places to charge electric cars, making more cars, and bringing in more eco-friendly vehicles.
SAIC, known for its cutting-edge technology, is committed to supporting the partnership by providing cutting-edge products and technology to deliver innovative mobility solutions tailored for the Indian market. JSW will hold a substantial 35% stake in the joint venture operations in India under the terms of the agreement.
“The automotive industry thrives on collaboration and access. SAIC’s commitment to ‘win-win cooperation’ remains steadfast as we join forces to innovate, create greener mobility solutions, and expand our brand influence in India.”
President Wang Xiaoqiu emphasized
JSW Group’s Parth Jindal echoed this sentiment, emphasizing that their joint venture aims to capitalize on localized initiatives while championing the development of the EV ecosystem. The joint venture’s objective is to transform MG Motor operations in India with a focus on futuristic, technology-driven automobile products, including intelligent connected NEVs and ICE vehicles.
With a focus on green mobility, the joint venture will leverage the experience of SAIC Motor and MG’s core values of globalization, digitalization, rejuvenation, and youth. It will also leverage JSW Group’s broad reach in the Indian B2B and B2C markets to fortify local sourcing and build a strong supply chain, laying the groundwork for a sustainable automotive ecosystem.
In their quest for a smarter and more environmentally friendly automotive future in India, both organizations affirm their unwavering commitment to the Indian market and highlight their ambition for continued growth while placing a high priority on sustainability and carbon neutrality.