JSW Group is likely to have signed a Memorandum of Understanding to buy approximately 35 percent stake in MG Motor India. MG Motor India is a wholly-owned subsidiary of the Shanghai-based SAIC Motor
The global EV Platform market size is estimated to be worth around USD 1,52,610 million by 2032 and is growing at a remarkable CAGR of 29.14% between 2023.
China s auto market, the world s largest, is on track to reach nearly 25 million vehicles in sales this year with overall growth of about 3%, and the share of EVs and plug-ins is rising fast. Consultancy AlixPartners forecasts this will be the first year made-in-China brands top 50% of their home market.