# SAIC Motor and JSW Group form joint venture for MG Motor India

SAIC Motor and JSW Group signed a strategic joint venture agreement under which JSW will acquire a 35% stake in MG Motor India's operations. The joint venture aims to accelerate growth with a focus on green mobility, including local sourcing, charging infrastructure, and production capacity expansion.

- Type: Acquisition
- Announced: 2023-11-30
- Where: India
- Status: completed
- Products: electric vehicles, green mobility solutions
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [SAIC Motor](https://endata.com/companies/20448.md)
- [SAIC Motor](https://endata.com/companies/20448.md) (partner)
- [JSW Group](https://endata.com/companies/29290.md) (investor)
- [JSW Group](https://endata.com/companies/29290.md) (partner)
- [MG Motor India](https://endata.com/companies/74085.md) (target)
- [MG Motor](https://endata.com/companies/74120.md) (target)

## Sources

- [mgmotor.co.in](https://www.mgmotor.co.in/media-center/newsroom/saic-motor-and-jsw-group-announce-a-strategic-joint-venture-to-accelerate-growth-with-focus-on-green-mobility), 2023-11-30: "SAIC Motor and JSW Group will create strategic synergies by bringing together resources in the field of automobiles and new technology."
- [auto.economictimes.indiatimes.com](https://auto.economictimes.indiatimes.com/news/industry/saic-motor-and-jsw-group-announce-jv-to-accelerate-growth-with-focus-on-green-mobility/105640974), 2023-12-01: "SAIC Motor and JSW Group will create strategic synergies by bringing together resources in the field of automobiles and new technology."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.