
JSW to buy 35% stake in MG Motor India
China's SAIC Motor and JSW joint venture will pursue the development of the electric vehicle (EV) ecosystem in India.
China's SAIC Motor and JSW joint venture will pursue the development of the electric vehicle (EV) ecosystem in India.
Maruti Suzuki, the country's largest carmaker, reported a 10.3% year-on-year (YoY) surge in its sales to 1,78,083 units as against 1,61,413 units in the same period last year.
MG Gloster Blackstorm is powered by the BS-VI 2.0-litre diesel engine, including a first-in-segment twin-turbo diesel engine that delivers 158.5 kW of power.
The carmaker plans to set up a second manufacturing facility in Gujarat
Rajeev Chaba, CEO emeritus of MG Motor India, says 'Indianising' MG Motor India will mean 'Indianising' the board, shareholding, and management.
The Comet EV is the second EV in MG Motor India’s portfolio, which is targeted at urban drivers
A day earlier, a source of JSW Group told Fortune India that negotiations are on with multiple car markers but nothing has been finalised.
"The world-leading hydrogen fuel cell system underlines MG's commitment to providing clean and efficient travel based on green, renewable power sources," the company says in a statement.
Chaba says the company has always reinforced its commitment to national policies such as the 'Make in India initiative', and its push for battery electric vehicles (BEVs).
The Indian arm of the Chinese-owned brand is eyeing a quarter of its revenues coming from EVs in 2023.