JSW Group is set to raise its stake in its joint venture with SAIC Motor, JSW MG Motor India, aiming to surpass the Chinese automaker and become the single-largest shareholder in the company, according to Parth Jindal ([source needed citation]).
Why This Shift?
- SAIC Scaling Back: SAIC has decided to halt further capital investments in India, opting to focus on its home and European operations
- JSW’s Move: JSW aims to step in by acquiring additional equity, which it believes will strengthen its control and operational influence .
Current Shareholding Structure
- SAIC currently holds 49% of the JV
- JSW Group holds 35%, with the balance split among financial investors (8%), dealers (3%), and employees (5%)
- JSW plans to gradually increase its stake—potentially to majority—through fresh infusion as SAIC’s share is diluted
Strategic Implications
- Control & Autonomy: A larger stake gives JSW greater control over strategy, from electrification to lineup decisions.
- EV Leadership: JSW MG Motor India already plans to sell 1 million EVs by 2030, aiming for a 33% market share. Increased burden will now rest on JSW’s shoulders
- IPO Readiness: A majority or leading investor position sets the stage for a potential public listing in 3 years Moneycontrol.
Next Steps
| Timeline | What’s Next |
|---|---|
| Short-term | JSW makes incremental equity infusion to dilute SAIC’s share |
| Mid-term (3 yrs) | JV targets IPO; roadmap includes ownership consolidation |
| Long-term (by 2030) | EV sales reach 1 million units; JSW drives brand positioning |
Bottom Line
JSW Group is positioning itself to gain full strategic control of MG Motor India by becoming the single-largest shareholder. This move aligns with its ambition to lead India’s EV transformation and establishes a clear roadmap toward independence and public listing.
