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JSW joint venture will be finalised within weeks: Rajeev Chaba of MG Motor India [Video]

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Strategic Partnerships and Alliances

MG Motor India continues to witness growth in EV sales, despite falling short of the projected 80% increase. Rajeev Chaba, President and Managing Director of MG Motor India, in an exclusive interview with CNBC-TV18, said, the company has achieved a substantial 60% growth.

This comes as MG Motor India, a subsidiary of Chinese carmaker SAIC Motor, is on the brink of finalising an electric vehicle (EV) joint venture with JSW Group. The deal will see JSW acquire a 35% stake in MG Motor India.

Chaba added, “JSW will provide scale and help in expanding retail footprint travel.” He also dismissed concerns about slowing EV sales and said, “Nowhere, nowhere are EV sales slowing down. You know, you can talk about different growth. So as an example versus expectation of 80% growth, the growth is 60%.”

Chaba further explained, “In America right now, the percentage has grown is has gone up to 15 to 20% penetration. In China, it …

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