SAIC to Sell 10% Stake in Indian JV to JSW, Making JSW Top Shareholder

SAIC Motor plans to sell an additional 10% stake in its joint venture, JSW MG Motor, to its Indian partner JSW. Upon completion of the transaction, JSW’s ownership in the joint venture will increase to 45%, making it the largest shareholder. It is reported that the proceeds from this deal—approximately ₹6 billion—will be reinvested by SAIC Motor into JSW MG Motor to support the launch of new vehicle models. Neither SAIC Motor, JSW, nor JSW MG Motor has commented on the matter.