Jaipur Stock：SAIG MG India introduced local investors to make new energy

The newspaper (reporter Zhou Yuan) The momentum of "going to the sea" is flourishing. SAIC Group seized the rapid development of the Indian market. At the end of last year, it signed a strategic cooperation agreement with the Indian steel giant JSW Group to continue to increase the MG brand market share.Yesterday, SAIC Group announced the introduction of new progress in introducing this strategic investment: 26.5 billion rupee equity transfer payments paid by JSW have been received.Jaipur Stock

SAIG MG India introduced Indian investors such as JSW in the method of equity transfer and capital increase and expansion.In 2017, Shangqi wholly established MG Indian companies, paying 29.2 billion rupees in actual capital. This time, JSW has received 26.5 billion rupees paid by JSW to buy 26%of the equity payment of MG India, recovering most of the investment;The business trust and employee holding plan will also injected 25.6 billion rupees for MG Indian companies.The relevant person in charge of SAIC Group said, "After the premium transfer of equity and capital increase and shareholding is completed, SAIC will still retain 49%of the equity and higher percentage of voting rights of MG IndiaChennai Investment. As a result, SAIC Group is expected to increase net profit by 5 billion yuanTo 7 billion yuan. "

India has become the third largest automotive market in the world.As early as 2017, SAIC Group set up MG India Automobile Co., Ltd., wholly, including the vehicle manufacturing base and supporting supplier parks.SAIC MG India's first model MG Hector was launched in June 2019. As the product line gradually enriched, MG India's sales have risen year by year. The sales volume has grown from 16,528 in 2019 to 62010 last year.8, of which the new energy vehicle ranks second in the market.

"The cooperation between SAIC and JSW Group to reach a consensus will accelerate the expansion of the Indian automotive market. SAIC output smart electric technology and MG brands. JSW Group will help in terms of local policies and markets to jointly empower the joint venture.In 2030, MG India's sales rose from 8th to 5th.Udabur Investment

In recent years, SAIC Group has adhered to users and market -oriented, actively tapped the local dominant resources of overseas markets, established risk prevention and control, and continuously accelerated global development.In 2023, the overseas sales volume reached 1.208 million vehicles, leading in Indian automobile companies for 8 consecutive years, helping my country ’s automobile exports to catch up with Japan to jump in the world.

At present, SAIC Group's products and services spread throughout more than 100 countries and regions around the world, and overseas business has achieved large -scale profitability.In the 5th consecutive year, the MG brand has won the single brand overseas sales champion of India. It has successfully entered the United Kingdom in the United Kingdom, France, Germany, Italy, Spain, Sweden, Australia, Saudi Arabia, Qatar, UAE, Thailand, Mexico, Chile.Mainstream brand camp.This year marks the 100th anniversary of the birth of the MG brand. From this year to next year, MG will launch more than 10 smart electric "global cars" overseas, covering the mainstream market segment and fully promoting India's intellectual manufacturing to the world.