MUMBAI: The first major India-China joint venture took off in the car industry with $110-billion Chinese automotive behemoth SAIC, which owns and operates MG Motor brand, partnering homegrown steel major JSW to manufacture cars for Indian and global markets.Sajjan Jindal, chairman of JSW group, said cumulative holding of Indian entities will be 51% in the … Read more
JSW MG Motor India Pvt Ltd – the newly formed entity owned by Sajjan Jindal owned JSW Group and SAIC’s MG Motor India – plans to sell a million units of the new energy vehicles (NEVs) by 2030, said Sajjan Jindal, chairman JSW Group. “With MG we can create a new energy Maruti moment, Jindal … Read more
Porsche found itself in a bit of a pickle recently when a bunch of cars that were headed to the U.S. were impounded at the port of entry. Initially, a source told us that it was because they used a microchip that was manufactured in Belarus, which violated international sanctions, but when we contacted Porsche … Read more
Happy Wednesday! It’s January 10, 2024, and this is The Morning Shift — your daily roundup of the top automotive headlines from around the world, all in one place. Here are the important stories you need to know. The Hype Behind Tesla Stock Success In 2023 1st Gear: Tesla Lowers Estimated Range For All Vehicles … Read more
Mumbai: MG Motor India, the SAIC-owned British brand, plans to launch seven new models in the Indian market over the next couple of years, the company told a group of dealers invited to its headquarters in Shanghai within days of stitching a joint venture with the Sajjan Jindal-owned JSW Group. A spokesperson at MG Motor … Read more
NEW DELHI: In the first case of a top Chinese company making way for an Indian investor, steel magnate Sajjan Jindal’s JSW group will be buying a 35% stake in MG Motor India, a fully-owned unit of China’s automotive giant SAIC, capping a deal that had been in the works for almost a year. Jindal, … Read more
JSW Group recently entered into a joint venture with SAIC Motor to acquire 35 percent stake in MG Motor India. Under this aggrement, SAIC Motor and JSW Group will create synergies by bringing together resources in the field of automobiles and new technology. The joint venture will also undertake multiple new initiatives, such as augmenting … Read more
NEW DELHI: In the first case of a top Chinese company making way for an Indian investor, steel magnate Sajjan Jindal’s JSW group will be buying a 35% stake in MG Motor India, a fully-owned unit of China’s automotive giant SAIC, capping a deal that had been in the works for almost a year. Jindal, … Read more
After Chinese automaker BYD dethroned Volkswagen as the best selling automaker in China late last year, VW said last week that it will develop a new, cheaper electric car platform using more Chinese-made components to reestablish dominance in the world’s biggest car market. Volkswagen’s CEO Is Stepping Down It’s no secret that the Chinese car … Read more
Renowned steel magnate Sajjan Jindal is reportedly in the process of establishing a significant presence in the Indian auto market. The plan involves acquiring a substantial stake in MG Motor India, a unit of the Chinese company SAIC, and subsequently acquiring Ford’s factory in Chennai through a new entity. Concurrently, Jindal is actively engaged in … Read more