What Sajjan Jindal's ride on MG Motor means

economictimes.indiatimes.com:

Sajjan Jindal's JSW Group buying a 35% stake in MG Motor India is a win-win deal for both. MG Motor India is a British brand owned by China’s SAIC. The company had a good start with the launch of its first product SUV Hector in 2019.

Though it has a minuscule share in India's auto market, its position in the electric vehicle (EV) segment is promising for growth.
Jindal, who has been trying to get into India's auto market with an eye on green mobility, has found a good match in MG Motor which has been looking to dilute its shareholding to «Indianise' the company and raise funds for expansion. While India's steel magnate Jindal's entry into the auto sector will boost competition, MG Motor will have more money to fund its expansion and innovation drive, aiming to get ahead in the EV car segment while the giants are still behind.

A speeding automaker going low on fuel
While MG Motor's cars have found success with Indian consumers, the company's proposal to bring more capital into India from its parent to scale operations had reportedly run into a roadblock. That's when the company had charted out ambitious growth plans.

MG Motor India — which has on offer five vehicles in the local market currently — is targeting doubling its product portfolio by 2028. The company plans to launch four-five new cars, mostly EV models, and achieve 65-75% of its sales from the EV portfolio by 2028.

More immediately, MG Motor India is looking at profitably growing sales to 80,000-100,000 units this calendar year, from 48,000 in 2022. As part of its growth plan, MG Motor India plans to invest Rs 5,000 crore, which will be utilised, among others, to establish a second manufacturing facility in Gujarat. The new unit is intended to more than