Following SAIC, which owns MG, JSW Group, led by Sajjan Jindal, is in discussions with several automotive manufacturers regarding additional electric vehicle (EV) joint ventures.

Sources familiar with the matter indicate that Chinese automaker Geely is among the original equipment manufacturers (OEMs) JSW is engaging with. It is understood that JSW aims to expand its presence in the Indian EV market and is considering launching multiple EV line-ups, including both passenger and commercial vehicles.

"Ultimately, JSW also plans to introduce its own EV line-up," stated a senior automotive executive familiar with SAIC. When approached, a spokesperson for the company declined to comment, and MG India officials also refrained from commenting.

Sources within the industry suggest that JSW's exploration of other automotive partnerships is driven by its plans in the automotive sector.

"The SAIC-JSW partnership is not exclusive, meaning JSW is free to seek additional partnerships based on the vehicle segments it intends to enter," the senior executive explained. The fact that SAIC did not offer JSW a majority stake in MG could also be a point of contention, the executive noted further.

Currently, JSW Group holds a 35% stake in MG Motor India, with a private equity firm owning 8%, and another 8% held by MG dealers and employees. SAIC holds the remaining 49%.

The joint venture between JSW and SAIC, JSW MG Motor India, was established in 2023. Media reports have suggested that JSW may increase its stake to 51% ahead of a potential listing of JSW MG Motor India, but the company has not confirmed this. JSW has been linked to potential partnership discussions for some time.

In 2023, JSW was in advanced talks with Ford, though the discussions did not result in an agreement.

Additional reports have indicated that JSW is also in talks with Volkswagen, though the company has not commented on these discussions.