China s SAIC Motor plans to drop its ownership in MG Motor India to allow domestic entities to take a majority stake, the Indian electric vehicle maker said on Wednesday, as Chinese investments. | May 10, 2023
China's SAIC Motor plans to drop its ownership in MG Motor India to allow domestic entities to take a majority stake, the Indian electric vehicle ..
A fully-owned subsidiary of China’s SAIC Motor, MG Motor India has announced it will dilute its shares and set up a new plant in Gujarat, with an eye on firming up its long-term plans.
Soon after launching the new MG Comet, the automaker has revealed its 5-year road map, revealing MG s plan to fetch more profit form EVs than ICE models.
The company is expecting a major investment from an Indian partner this year, Rajeev Chaba, CEO emeritus, MG Motor India, said at a round table to discuss the company’s plans