Reuters reveals Chinese automaker SAIC’s MG Motor India to raise funds for EV push

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.