 "Rajeev Chaba, CEO Emeritus of MG Motor India with Sajjan Jindal, chairman of JSW Group, and Parth Jindal, member of steering committee of JSW MG Motor India")
Chinese automotive giant SAIC Motor, which owns MG Motor India, and diversified business conglomerate JSW Group have joined forces to form an automotive joint venture — JSW MG Motor India Private Limited. In this partnership, JSW will hold a 35 per cent stake.
The JV plans to invest approximately Rs 5,000 crore to develop new energy vehicles (NEVs) and internal combustion engine (ICE) vehicles for both Indian market and exports.
At a media event in Mumbai on Wednesday to present their new model, the Cyberster EV sportscar, Sajjan Jindal, chairman of JSW Group, said: “With MG, my dream is to
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