Reuters exclusively reported that MG Motor India, which is owned by China’s SAIC Motor, plans to raise funds to develop its Indian electric mobility business, as Chinese investments face increased scrutiny by the government in New Delhi. MG Motor India may try to sell a stake of between 10% and 30% and is looking at options including issuing new shares or diluting SAIC’s holding, adding that it may even create a separate unit for its electric vehicle business in India.
The post Reuters reveals Chinese automaker SAIC’s MG Motor India to raise funds for EV push appeared first on Reuters News Agency.
Some of the links in this article are "affiliate links", a link with a special tracking code. This means if you click on an affiliate link and purchase the item, we will receive an affiliate commission. The price of the item is the same whether it is an affiliate link or not. Regardless, we only recommend products or services we believe will add value to our readers. By using the affiliate links, you are helping support our Website, and we genuinely appreciate your support.