Sajjan Jindal's Bid for MG Motor India & Ford Factory
2023 • 3min • News • Business
Published On: October 27, 2023 - Steel magnate Sajjan Jindal plans to make a new company after buying a sizable stake in MG Motor India. Later, he also plans to acquire Ford's Chennai-based factory through this new entity. In addition, Jindal is also in talks with Leapmotor, a Chinese auto company, to license their technology for making electric vehicles (EVs). MG Motor India is a unit of the Chinese giant SAIC. In related news, Jindal (India) has also submitted a debt resolution plan for Future Enterprises. The plan is submitted under the Insolvency and Bankruptcy Code (IBC) process. Join News9's Krishna Kumar and Kartik Malhotra for more on this story.