SAIC

If the deal goes through, JSW's stake in MG India will increase to 43% from 35%

JSW MG was the second largest electric car company in India in October, with its three models selling 4,878 units. Tata Motors was just a shade ahead with 5,067 units sold of its six models

Meanwhile, Sony India is going full steam ahead with its plans without Zee and said it is looking for both organic and inorganic growth opportunities in India

For the financial year ending in 2023, MG Motor India had a 1.26% share in India's passenger vehicle segment

Following a border clash in June 2020, the Indian government had banned Chinese apps and imposed restrictions on foreign direct investments

Amidst talks that China's Shanghai Automotive Industry Corp (SAIC) is taking over General Motors India's Halol asset near Vadodara, the Chinese car giant today clarified that while it has signed a term sheet to evaluate the Halol plant, no formal agreement for the same has been signed yet.An SAIC spokesperson said, "SAIC has not signed any formal agreement with GM for the Halol Plant. Few months back, SAIC signed a term sheet to evaluate the Halol Plant which has been conveyed in a filing to Shanghai Stock Exchange, SAIC being a listed company there." He further clarified that "SAIC's Halol plant deal is subject to GM's submission of all government approvals, settlement of labour and all other pending issues by GM." It may be noted here that around 625 permanent workers at the Halol site had refused to accept the VRS package offered by GM India. They had even gone on hunger strike on March 21. Many workers have fallen sick and are unable to report to work. The strike, however, ...

Former GM India MD Rajeev Chaba to head SAIC in India