SAIC Retains 49% Stake and Majority Voting Rights in MG India After Equity Transfer

Following a strategic agreement with JSW Group, SAIC announces retaining a 49% stake in MG India, ensuring majority voting rights and a robust market presence.

SAIC Motor has recently completed a strategic equity transfer in MG Motor India, post a partnership with India’s steel conglomerate, JSW Group. Initially, SAIC had established MG India with full ownership, but this move saw JSW Group acquiring a significant share, enhancing the collaboration between these industrial giants.

This development resulted in SAIC receiving a substantial payment, signifying successful recoupment of its initial investment, while still ensuring SAIC retains considerable control over MG India with 49% ownership and a majority of the voting rights.

This arrangement underscores SAIC’s strategic foresight in maintaining influence over its operations, aligning with its long-term vision for MG India’s growth and expansion in the competitive automotive sector.

MG Motor India has shown impressive growth since its inception, with its vehicle sales showing a consistent upward trajectory. This growth is highlighted by the success of its product lineup, including the introduction of new energy vehicles, positioning MG as a significant player in India’s automotive market.

SAIC’s continued investment and strategic adjustments in MG India not only reflect its commitment to the Indian market but also its adaptive strategy in global expansion, ensuring sustained growth and market competitiveness.

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SAIC Retains 49% Stake and Majority Voting Rights in MG India After Equity Transfer

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