Private Equity Other Private Equity/Strategic Investments
KKR in talks to invest $400-M in EV maker JSW MG Motor India
Source JSW MG Motor India (opens in a new tab)Economic Times (opens in a new tab)
Private equity firm KKR is in talks to invest $400-M in Mumbai-based JSW MG Motor India . The transaction is expected to involve a mix of primary equity infusion to support growth and a secondary share sale by the Chinese automaker SAIC Motor. This deal would value the three-year-old joint venture at USD 3-B, representing a significant increase since its formation.Established in March 2024, JSW MG Motor India is a joint venture between the Sajjan Jindal-led JSW Group and SAIC-owned MG Motor India. The company focuses on the electric vehicle segment and has recently experienced a rise in sales demand.The firm plans to utilize the potential capital to fund expansion projects, including scaling up its Halol facility and establishing a second manufacturing unit in Gujarat to meet production targets.
In Apr 2024, JSW MG Motor India had attracted about $95 M from Everstone.For FY25, JSW MG Motor India had reported about INR 8,648 Cr in Operating Income and about INR 1,097 Cr in Net Loss.