SAIC’s MG Motor India is preparing to welcome Indian investors into its fold, a strategic move that involves an equity transfer and an increase in share capital. Among the investors is JSW Ventures Singapore Pte Ltd, a subsidiary of JSW International Tradecorp Pte Ltd, which is set to acquire a substantial 35 percent stake in MG Motor India for an impressive ₹35.77 billion ($429.4 million).
This decision is aimed at enhancing MG Motor India’s market presence and minimizing operational risks by bringing aboard local Indian investors. The move comes as part of SAIC’s broader strategy to expand its MG brand globally, with a particular focus on the Indian market, where it faces formidable competition from domestic players like BYD and international giants such as Tesla.
Notably, in 2023, SAIC achieved a significant milestone by exporting nearly a quarter of its total car sales, underscoring its commitment to international growth and market diversification. MG Motor India is a subsidiary of SAIC Motor Corporation Limited, one of the world’s largest automotive manufacturers. Established in 2017, MG Motor India has quickly made a mark in the Indian automotive market.
The company’s flagship offering, the MG Hector, was launched in 2019 and received a positive response from consumers and critics alike. Known for its innovative features, premium design, and competitive pricing, MG Motor India’s vehicles cater to the evolving needs of Indian consumers. The company has a strong focus on sustainability and has introduced electric vehicles like the MG ZS EV, contributing to the country’s shift towards greener mobility solutions.
MG Motor India has rapidly expanded its presence across the country, with a network of dealerships and service centers. The company is committed to providing exceptional customer service and has introduced several initiatives to enhance the ownership experience. With a strategic approach to product development, marketing, and customer engagement, MG Motor India is poised for continued growth and success in the Indian automotive market.
