Overview
- SAIC is preparing to substantially dilute its 49% holding in the JSW MG Motor venture and pause fresh investment, according to Reuters-based reports.
- The Chinese automaker plans to keep supplying technology and products to the Indian operation despite scaling back its equity role.
- JSW has offered to purchase most of SAIC’s stake to gain majority control, but negotiations remain stalled over valuation, according to the reporting.
- JSW is simultaneously pursuing a separate technology tie-up with Chery Automobile for a JSW-branded line, a move that has reportedly unsettled SAIC.
- The venture’s EV push faces hurdles, with a $240 million investment plan still awaiting approval and no Chinese clearance yet for Indian imports of rare-earth magnets.