SAIC Motor India Entry

The loss-making carmaker has struggled to grow ​its presence in India after New Delhi in 2020 sought to limit investments from Beijing

SAIC is not pulling out of India but wants to dilute its stake in JSW MG Motor significantly and will continue to provide technology and products for the venture

IndoEdge India Fund will buy an 8 per cent stake, a dealer trust will take a 3 per cent stake and an employee stock ownership plan will own 5 per cent

Streamlined regulatory approvals, sector-specific incentives would encourage firms to write acquisition cheques

Following a border clash in June 2020, the Indian government had banned Chinese apps and imposed restrictions on foreign direct investments

When concluded, the deal will leave at least 51 per cent stake of the company in Indian hands

GM looking to buy 9.2% stake from the Chinese auto major

Rs 2,000 crore to be invested in new plant; around 1000 people to be employed

SAIC to tie up with Morris Garages to set up dedicated manufacturing unit in India, rollout by 2019