SAIC MOTOR
India's dealmaking resilient despite weak rupee, equity slump, Citi's Saraf says
India's M&A deal value has declined over the year while the number of deals remains stable. Strategic partnerships are expected to increase, particularly between Indian and Chinese companies. Sectors like healthcare, consumer, infrastructure, and technology are showing strong activity. Concerns over the rupee and market volatility are downplayed by investment bankers. Despite challenges, the long-term growth outlook for India is regarded as stable and positive.
Volkswagen freezes India EV investment as JSW partnership talks continue
Volkswagen has paused further investment in its India electric-vehicle programme pending greater clarity on a potential partnership with Sajjan Jindal’s JSW Group. The German automaker has completed preliminary design work using a low-cost EV platform developed for China but awaits a clearer business plan. The pause could delay its India EV push as competition intensifies and affordable electric-car sales accelerate.
'If you can't beat them, join them': Uday Kotak backs Chinese investment in India
Encouraging a paradigm shift, Uday Kotak of Kotak Mahindra Bank calls for increased Chinese investments in India. He posits that collaborating with Chinese firms could enrich India's manufacturing sector. Kotak’s remarks signal a reassessment of global investment trends, advocating for a cooperative model akin to China’s previous engagements with U.S. companies, aiming to expand the spectrum of available capital even in the face of trade tensions.
Indian Super League gets title sponsor after three seasons, ties up with JSW MG Motor India
The Indian Super League has secured JSW MG Motor India as title sponsor for the 2026-27 season, ending a three-season gap without a title partner. The league will be renamed the MG Indian Super League as it begins a club-led commercial era, with 13 teams returning to a full home-and-away format.
Govt set to consider auto PLI applications with Chinese investment after FDI nod
The Indian government is likely to consider production-linked incentive applications from auto companies with Chinese investments. This decision comes after President Xi Jinping's recent visit to India and improving relations. Existing applications with foreign direct investment (FDI) approvals will be reviewed for potential benefits. The auto production-linked incentive scheme aims to boost domestic manufacturing and investments significantly. Disbursements under this scheme are expected to increase in the upcoming financial years.
Volkswagen overhaul puts Seat’s future at risk as Chinese rivals reshape global auto industry
Volkswagen's strategic overhaul may lead to the discontinuation of its Seat brand. This move signals significant industry consolidation amid rising Chinese competition. The company is focusing investment on its strongest and most profitable brands. Many automakers face difficult choices due to declining sales and EV transition costs. This upheaval is reshaping the global automotive landscape with fewer players.
- Go To Page 1
JSW, Skoda-Volkswagen India stitch up 51:49 JV plan; sign non-binding MoU, begin exclusive valuation talks
JSW Group and Volkswagen have signed a non-binding MoU for a new alliance. This partnership aims to strengthen competitiveness through expanded product offerings and deeper localisation. The agreement initiates exclusive negotiations with a target final deal by end of 2026. The proposed alliance will operate through a new entity separate from existing JSW ventures.
JSW MG Motor appoints Parth Jindal as Chairman
Parth Jindal has been appointed Chairman of JSW MG Motor India, effective immediately. The company plans significant investments to expand capacity and introduce new electric vehicles. JSW MG Motor aims for 70-80% of total sales from new energy vehicles. This appointment coincides with the company's expansion of Indian operations. Four new vehicles are scheduled for launch in the market during FY27.
Parth Jindal named chairman of JSW MG Motor India
JSW MG Motor India has appointed Parth Jindal as its new chairman. Jindal has been a board member since the joint venture's formation. He is actively involved in product strategy and manufacturing expansion. The company is accelerating growth and localization plans in India. This appointment supports the automaker's expansion strategy with new products and EVs.
JSW MG seeks PHEV tax incentives, targets 70% localisation by 2027
JSW MG Motor India is pushing for lower taxes on plug-in hybrid electric vehicles. The company targets 70% localization for its Windsor and Hector Tomahawk models. Discussions are underway for the next investment phase with Chinese partner SAIC. JSW MG plans to increase its annual vehicle sales significantly in the coming years. The automaker aims to expand its production capacity beyond current plans.
JSW MG Motor India plans Rs 6,000 cr investment for capacity expansion, operations
JSW MG Motor India will invest Rs 6,000 crore for plant expansion and operations. The Halol plant capacity will double to 2.20 lakh units by January 2028. Discussions continue regarding JSW Group's potential acquisition of an additional stake. The company aims for 35-40 percent annual volume growth in coming years. MG Motor India is commissioning cell-to-pack assembly lines for battery storage.
China's SAIC to sell another 10% stake in Indian car venture to local partner JSW - sources
China's SAIC Motor is selling an additional 10% stake in its Indian car venture, JSW MG Motor, to local partner JSW Group. This move will elevate JSW to the largest shareholder, granting it greater operational control. SAIC's decision stems from India's investment curbs, hindering expansion plans despite previous stake dilution.
China's SAIC to cut stake in India car venture with JSW amid investment curbs, sources say
SAIC Motor plans to reduce its stake in its Indian joint venture, JSW MG Motor, and halt further investments. Despite efforts to improve relations between India and China, investment proposals remain stalled. JSW's pursuit of a partnership with Chery Automobile has further strained the relationship.
JSW MG Motor names 1st electric CUV as MG Windsor
JSW MG Motor India has announced that its first electric CUV (Crossover Utility Vehicle) will be named the MG Windsor. This follows a joint venture agreement with SAIC Motor to boost MG Motor's growth in India.
China's SAIC Motor files defence to EU's preliminary EV anti-subsidy ruling
SAIC Motor defended itself against the EU's ruling, stating the EV probe involved commercially sensitive information beyond the normal scope. The European Commission had imposed up to 37.6% tariffs in July, ignoring critical information and inflating subsidy rates for many projects. SAIC, being the most affected, filed to safeguard its legitimate rights amid claims the investigation exceeded standard boundaries.
SAIC's MG Motor India plans to bring in Indian investors including JSW
SAIC Motor's MG Motor India to attract investors for market expansion and risk prevention. JSW Ventures, IndoEdge India Fund, dealer trust, and employee stock plan to aid growth in India's auto sector.
CCI approves JSW's acquisition of up to 38% stake in MG Motor India
The Competition Commission of India (CCI) has granted approval for the JSW Group's plan to acquire a maximum of 38% stake in MG Motor India. The CCI stated that the acquirer, a newly established company, is a wholly owned subsidiary of JSW International Tradecorp Pte. Limited and is part of the JSW Group.
JSW, SAIC ink JV to run MG Motor operations in India
"Our strategic collaboration with SAIC Motor aims to grow and transform the MG Motor operations in India with a focus on green mobility solutions," the JSW Group's Parth Jindal said in a media release. The announcement comes amid increased scrutiny by the Indian government on investments made by China amid border tensions.
JSW, China's SAIC form new India venture for green mobility
SAIC already has a presence in India through its fully owned unit MG Motor India but has struggled to grow its presence in the country after Chinese investments faced increased scrutiny from New Delhi. JSW will take a 35% stake in the new Indian joint venture, the companies said.
JSW Group to acquire 35% stake in MG Motor India
As per the agreement reached between the two companies, JSW Group will acquire 35% stake in SAIC’s Indian subsidiary MG Motor India for an undisclosed amount. The Chinese auto major will continue supporting the joint venture with advanced technology and products to deliver mobility solutions to the Indian consumer.
Sajjan Jindal, SAIC set to drive MG Motor in India, finalises terms of agreement
Sajjan Jindal's private company to take up to 35% stake initially with option to go up to 49% and then 51% post IPO; Chinese ownership to fall below 40%.
Chinese automaker SAIC looks at local co-drivers to navigate India market
The company didn't comment when asked about the prospect of an alliance with JSW Group. ET reported in its June 14 edition that a private company owned by Sajjan Jindal, chairman of JSW Group, aims to buy a stake of as much as 48% in MG Motor India.
MG Motor India expects EVs to make up 25% of sales in 2023
MG Motor plans to raise funds to develop its Indian electric mobility business amid increased scrutiny of Chinese investments by New Delhi. MG entered India in 2019 with plans to invest about $650 million but New Delhi has sought to limit investments from Beijing after a 2020 clash between soldiers from the two countries on their disputed Himalayan border.
MG Motor India plans to raise $500 m locally in capex push
The maker of the Hector and Astor SUVs is seeking to tap the local market because of a delay in getting government approval for new investment from the Chinese parent. MG Motor India has already initiated talks with private equity investors, several people in the know told ET.
Huawei, Alibaba, Tencent among 7 Chinese firms in India with PLA links, claims government
The development comes after New Delhi banned 59 Chinese apps in the country. Xinxing Cathay International Group has set up a manufacturing facility in Chhattisgarh with an investment of Rs 1,000 crore; China Electronics Technology Group Corporation and SAIC Motor Corporation Limited.
MG Motor rolls out first SUV Hector from Halol in Gujarat
The MG Motor India, which is a wholly-owned subsidiary of China's SAIC Motor Corp, is set to kick off its journey in the country with the launch of Hector in June.
General Motors India-SAIC deal gets Competition Commission's nod
The Chinese company, which has been planning to enter the Indian market, has proposed to buy certain assets of GM's India's Halol plant in Gujarat.
China's SAIC buys stake in General Motors
General Motors on Thursday confirmed China's leading automaker SAIC Motor Corp had agreed to buy a stake in the US auto giant, as it prepared for one of the largest stock offerings in history.
SAIC to fund own-brand vehicles
SAIC Motor Corp, China's top automaker, said on Thursday it will raise up to 10 billion yuan ($1.5 billion) through a share placement largely to shore up its own-brand cars and commercial vehicles to help secure its leading position in the world's largest auto market.
Load More
