Parth Jindal, the scion of multi-billion dollar conglomerate JSW Group, has been appointed as the Chairman of JSW MG Motor India with immediate effect. JSW MG Motor India, a joint venture between JSW Group and China’s SAIC Motor, manufactures and sells passenger vehicles in India.
Parth has served on the Board of JSW MG Motor India since the formation of the joint venture, and has been closely involved in shaping the Company's product strategy, manufacturing expansion and localisation programme.
His appointment to chairmanship comes at a time when the JSW Group is in talks with SAIC to increase its stake in the joint venture. JSW Group currently holds a 35% stake and has plans to become the largest shareholder in the JV. SAIC Motor is the largest shareholder of JSW MG Motor India with a 49% stake while Indian institutional investors own 8% and the remaining 8% is held by dealers and employees.
Besides the JV with SAIC, JSW Group at the same time is building an independent PV business under JSW Motor. It is reportedly working with China’s Chery Automobile for technology sharing and plans to offer multiple new-energy powertrains. JSW Motor is also reportedly in talks with German auto giant Skoda Volkswagen for a potential partnership.
JSW MG India has also stated its plans to invest heavily in India to expand its manufacturing capacities and launch new vehicles to grab a larger share in the world’s third-largest passenger vehicle market.
During the launch of Hector Tomahawk PHEV and Hector Tomahawk EV last week, Parth said that the company, along with its vendors, is investing around Rs 6,000 crore for capacity expansion at the Halol plant (Gujarat). JSW MG aims to double the capacity at the Halol plant in Gujarat to 2.20 lakh per annum by January 2028.
Parth also serves as the Managing Director of JSW Cement, Managing Director of JSW Paints, Chairman of JSW Dulux Limited and a Director on the Board of JSW Energy. He is also the Founder of JSW Sports and Chairman and Co-Owner of the Delhi Capitals.