SAIC Motor

It did not mention the United States, but added that sister brand IM, a luxury electric-vehicle line, also plans to enter the Mexican market

IndoEdge India Fund will buy an 8 per cent stake, a dealer trust will take a 3 per cent stake and an employee stock ownership plan will own 5 per cent

'The percentage of stake we hold is not as important as bringing the highest and best-available technology cars into India', says Sajjan Jindal

One of the key targets of JSW MG Motor India would be to bring down prices of NEVs closer to that of ICE vehicles

MG Motor India expects an accelerated growth path with more aggressive expansion plans after getting the JSW Group as an investor, according to company CEO Emeritus Rajeev Chaba. With the company already establishing a well laid foundation based on technology, customer experience, gender diversity and community service in the first phase of its journey in the country, he said MG Motor India is now looking ahead to the next phase of growth. "Now with the investor coming in, definitely I would expect an accelerated growth path, and more aggressive expansion plans.That's what we look forward to and take advantage of the solid foundation," Chaba told PTI. He was responding to a query on how MG Motor India was looking ahead with the new investor coming in but declined to share details on the future roadmap citing an impending announcement by the joint venture between China's SAIC Motor and JSW Group next week. Last year in November, China's largest automaker SAIC Motor had inked a joint

Streamlined regulatory approvals, sector-specific incentives would encourage firms to write acquisition cheques

China's largest auto firm keen to get higher royalty fee; JSW group wants to go with industry benchmark

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

There will be no JSW Group companies involved in the deal and Jindal will participate through his private company

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

When concluded, the deal will leave at least 51 per cent stake of the company in Indian hands

SAIC is in the advanced stages of talks with investors from different Indian companies, which include Reliance, Hero Group, Premji Invest, and JSW Group for equity sale

Carmaker owned by Chinese company SAIC Motor will raise Rs 5,000 crore through stake sale

The Comet EV will be available for test drives from today, April 27 and the bookings will open on May 15

MG Motor India, owned by China's SAIC Motor, expects electric vehicles (EV) to account for at least a quarter of its sales in India in 2023, the automaker said during the country's biennial auto show

The company's top management, including directors, managing director and auditors have been summoned next month by the ministry seeking more clarification

'MG Motor India has yet to finalise how much money it plans to raise, which will depend on the valuation of the Indian business and its growth plans'

A smaller SUV and a sub-four-metre car are in the works

Hongguang Mini outsells bigger players and even Tesla almost every month with a tiny, bare-bones EV that starts at $4,500.

SAIC plans debut in 2018, $1 bn investment