MG Motor India, JSW Group joint venture may go live in a few weeks

MG expects EV penetration in India to hit 4% in CY24

MG Motor India, currently wholly owned by Chinese car maker SIAC Motor, expects to close its joint venture (JV) with the JSW group within a few weeks and projects that electric passenger car penetration in India will hit 7-8 per cent in 2026, which is likely to be the tipping point for the segment.  
 

Speaking on the company’s strategy, Rajeev Chaba, CEO emeritus, MG Motor India, says: “We are expecting that the JV with JSW (in which the latter will have 35 per cent stake) will close in a few weeks, after which, we will finalise and announce the plans