Indian and Chinese companies have teamed up for a significant joint venture in the automotive sector. SAIC, a leading Chinese automaker that owns MG Motor, has partnered with Indian steel giant JSW to produce cars for both domestic and global markets. The new entity, JSW MG Motor India, will have 51% ownership by Indian firms. Initial investment for the venture is set at Rs 5,000 crore, as confirmed by Sajjan Jindal, chairman of JSW group.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/IFC0E9b
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