JSW MG Motor logs record June wholesales, launches Majestor as KKR eyes $400M stake
JSW MG Motor India posted record June wholesales of 7,568 units (up 30% YoY) with EVs over 75% of volume, and launched the Majestor SUV at Rs 40.99 lakh. KKR is exploring a $400M investment as JSW becomes largest shareholder amid SAIC's 10% stake sale, backed by Rs 8,000 crore SBI funding for a Maharashtra plant.
What happened
JSW MG Motor India logged record June wholesales (7,568 units, 75%+ EV) and launched the Majestor SUV. KKR eyes $400M investment; JSW becomes largest
Key facts
- 7,568 units June 2026
- +30% YoY
- EVs 75%+ of volume
- MG Majestor Rs 40.99 lakh
- KKR $400M investment
- $3B valuation
- SAIC selling 10% stake
- Rs 8,000 crore SBI funding
- refund Rs 18,23,228
- EV PV retail +81.2% to 26,682 units May 2026
Why this matters
SAIC's 10% sell-down and JSW becoming largest shareholder alongside KKR's entry reshapes the ownership stack—monitor the closing terms and how the SBI-backed plant financing affects control and capital structure.
What to watch
- KKR definitive agreement or withdrawal announcement
- Monthly wholesale prints vs the 30% YoY pace
- Majestor booking/delivery numbers first 60 days
- Regulatory clearance on SAIC stake sale and FDI
- EV subsidy/FAME policy changes
- Ramp Maharashtra plant tooling and localize EV components to reduce SAIC/China dependency
- Push Majestor bookings and dealer expansion to establish premium SUV footprint
- Formalize KKR term sheet and clarify post-SAIC cap table
- Deepen charging/battery partnerships to defend >75% EV mix