SAIC Motor, one of China’s biggest state-controlled auto manufacturers, looks to significantly reduce its current 49% stake in its Indian joint venture with India’s JSW Group, Reuters reported on Thursday, quoting sources with knowledge of the plans. SAIC and Indian conglomerate JSW Group have created the JSW MG Motor joint venture “to capitalise on the significant opportunities emerging in the fast-evolving Indian automotive sector.” However, the joint venture hasn’t delivered on the Chinese…
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