[volkman10]

M G Motor India to dilute majority stake to Indian partners to raise over Rs 5,000 crore.

The company is in talks with multiple strategic investors right from high net worth individuals, corporates, financial institutions, and a decision will be taken in 2023.

MG Motor India’s decision to sell its stake happens amid struggles to obtain FDI clearance from the government of India for its future investment. It is precisely the same reason why Great Wall Motors, Changan, and Foton, despite spending years in India, decided to exit the market amid geo-political tension.

With the next round of fundraising, M G Motor India will be able to raise upwards of Rs 5,000 crore in the next couple of years.

Link

[rajshenoy]

If I am not wrong, one can only do business in China if there is a local JV partner(not sure if it’s majority stake too) and they want to control all the technology, manufacturing and operations.

I think this is a win win for us and eventually we will see bigger JV players emerging and improving our market in general.

[shortbread]

A JV is important for customers. God forbid things get worse at the borders and the chinese companies have to withdraw due to any sort of sanctions, a local JV partner can ensure the operation continues. This is win-win.

[Cresterk]

Originally Posted by rsidd

That's a strong statement given that the BYD E6 is under 30L (ex-showroom) with much more room and range. Also, the Astor, as you say, has bombed and it's basically a petrol version of the ZS EV. Also, "best" does depend on the price (bang for buck); ZS EV may be better than E6 for many buyers because it is cheaper, and Nexon EV or Tiago EV may be better for other buyers.

MG Comet could be a game-changer depending on its price but if (as per some reports) it costs > ₹10L it would bomb worse than the Astor.

That leaves the Hector which indeed is doing well.

I hope the JSW deal leads to more "make in India" and therefore lower prices for the EVs.

The BYD e6 has a rather weak 94hp motor and can only seat 5 people despite taking up the footprint of a 7 seater. You get a massive boot which is not something most private owners would ever utilise often. It is aimed towards taxi / fleet providers and BYD too had only marketed it towards fleet operators in the beginning.

Compare that to the ZS ev which has a pretty decent 173hp electric motor, is decently quick and is packed full of features that are expected in that segment and are appealing to a private owner. I doubt anyone would be cross shopping it with an e6. Maybe the Atto 3 or nexon ev max, but definitely not the utilitarian e6. The Astor failed because of it's bad fuel economy and underpowered petrol engine, both of which don't apply to the ZS ev.

[volkman10]

MG Motor to rejig dealer network ahead of deal with Sajjan Jindal firm.

A formal announcement regarding the partnership between MG Motor India and a private entity led by Sajjan Jindal is expected to be made by Diwali.

MG Motor India has assured its dealers regarding the continuity of its operations and brand MG brand in India after the deal with JSW Group. Plus, the company outlined plans to launch new models and variants, as well as expand its overall production capacity, the financial daily reported.

The process of identifying dealers as part of the network rejig is likely to be completed within a week to 10 days.


Link

[ranjitht87]

Originally Posted by volkman10

A formal announcement regarding the partnership between MG Motor India and a private entity led by Sajjan Jindal is expected to be made by Diwali.

Sajjan Jindal-led JSW denies report of the company taking over MG Motor India

https://www.businesstoday.in/latest/...eb_story_share

[volkman10]

Sajjan Jindal to buy Ford's factory, stake in MG India.

Indian steel magnate Sajjan Jindal is reportedly forming a new company by acquiring a stake in MG Motor India, a unit of Chinese company SAIC, and purchasing Ford's factory in Chennai.

Jindal is also in talks with Chinese auto company Leapmotor to license their technology for electric vehicles.

The sources said Jindal may initially get over 30% stake in the company with MG Motor continuing to hold majority along with local financial institutions and employees.
However, with a planned IPO at a later stage, the share of the Chinese company will come down, while the Jindal entity will take a controlling stake.


Source: