Reliance May Invest In MG Motor India: A business roadmap for the next five years was just published by MG Motor India in an effort to enhance its stake in the Indian car market. By 2028, the corporation hopes to have invested Rs 5,000 crore. However, according to media reports, the corporation does not have nearly as much money as is needed for this. According to MG Motor India, a plan is being developed to raise around Rs 5,000 crore over the next two to four years by selling firm stakes to local partners and investors.
Other players now enter the picture from this point forward.
According to media sources, MG Motor India is in advanced talks for an equity sale with a number of interested firms, including Reliance Industries, Hero Group, Premji Invest, and JSW Group. Even though it is unclear which of these organizations is more interested in purchasing a stake in MG Motor India, it is anticipated that the transaction would be finalized by the end of the year.
Additionally, according to certain media sources, Mukesh Ambani,
a seasoned businessman in the nation who wants to enter the auto industry. And has the means to do so by purchasing the majority of MG Motors’ Indian operations. However, neither a confirmation nor a statement has been made in this regard on behalf of Reliance Group. It is noteworthy that news outlet Bhasha recently claimed. Citing sources, that MG Motor India had been waiting for almost two years for approval from the Government of India to obtain money from its parent firm, SAIC of China.
In such a circumstance, the organization is currently searching for investors in India. According to Rajeev Chaba, CEO of MG Motor India. The company intends to Indianize its supply chain, board of directors, management, & shareholding in the next two to four years.
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