SAIC, MG Motor’s parent company today announced a joint venture (JV) with JSW Group to expand MG’s operations in India. The JV has been officially named JSW MG Motor India Private Limited. The company said that with this JV it will capitalise on the significant opportunities in the Indian automotive sector. JSW MG Motor India … Read more
New Delhi: India on Friday approved the electric vehicles (EV) policy mandating a minimum investment of Rs 4,150 crore or around $500 million. and allowing investors three years to set up local manufacturing for EVs with domestic value addition (DVA) of 25% by the third year and 50% by the fifth year. “The policy is … Read more
India’s love for larger, feature-rich vehicles, coupled with efforts being undertaken by stakeholders to deepen localisation, is turning into a boon for local autos parts makers with component sales in the country surging to a whopping $ 36.1 billion in the first six months of the current financial year. An increase in value of sales … Read more