Automobile retailer Landmark Cars (NSE:LANDMARK, BOM:543714) has received a letter of intent from JSW MG Motor India to open new MG Select dealerships in the cities of Ahmedabad and Kolkata in India, according to a press release filed with the Indian bourses on Monday.
The dealerships will be established by Landmark Cars' wholly-owned subsidiary, Aeromark Cars.
The company will launch two models, MG Cyberster and the MG M9 EV, at the launch, with plans to expand subsequently.
MG Select is a new brand channel of MG Motor India.
Sales are expected to begin by May, the release said.
Shares of the company were up nearly 1% in recent trade.
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