Key Points
Sajjan Jindal-led JSW Group is believed to be in talks with SAIC-backed MG Motor India to pick up stake in the company..
The group is also exploring possibilities to buy stake in another Chinese company, BYDs India arm...
JSW has revived its plans to foray into the electric vehicle (EV) space after a gap of three years..
MG Motor India has been looking at raising funds through a variety of areas but has not made much progress so far...
Unlike MG Motor, BYD makes its own battery cells in China giving it a supply chain edge over its rivals...
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JSW eyes auto biz foray, in talks with China’s MG, BYD
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China’s BYD targets leadership in luxury EV segment in India
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Sajjan Jindal likely to acquire up to 48% in MG Motor India, make it an Indian company
14, Jun, 23According to the broad contours agreed upon so far, Jindal is likely to own 45-48% of MG Motor India, with dealers and Indian employees owning 5-8%. SAIC will hold the rest, said multiple sources aware of ongoing discussions. The plan will lead to a minimum 51% of the equity being in Indian hands, with the Chinese becoming a minority partner with a maximum 49%.