Rajeev Chaba expressed the company’s desire to localize their operations in India.
MG Motor India, which is currently owned by a British-origin and Chinese-owned company, is reportedly seeking an Indian owner in the near future. The company is said to be in discussions with various entities, including financial institutions and high net worth individuals, to dilute its stake in the company. While confirming these talks, the CEO of MG Motor India, Rajeev Chaba, has stated that no final decision has been made yet. However, he has revealed that the company’s ownership, board, and shareholding will be “indianised”. Furthermore, Chaba has announced that the company plans to go public by 2028 and invest Rs 5000 crore in the market, while also expanding its workforce to 20,000 employees.
According to a report by ET, one of the potential buyers for MG Motor India’s stake is Mukesh Ambani, who is known as the wealthiest person in Asia.
MG Motor India has its origins in Britain but is currently owned by the Chinese company SAIC. According to reports, several Indian companies, including Reliance, Hero, Premji Invest, and JSW Group, are in discussions with MG Motor India regarding a potential stake in the company. The company is said to be engaged in intensive discussions with these firms to obtain a favorable valuation, as they require immediate funding for the next phase of their expansion plans. While the company has been seeking regulatory approval to obtain funding from its parent company, it has reportedly been exploring other options in the absence of such approval.
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Rajeev Chaba, CEO of MG Motor India, has stated the company’s intent to localize their operations in India. The company has recently acquired the Halol Plant from General Motors and will commence manufacturing from there in the near future. The company also has plans to launch five new cars, the majority of which will be electric vehicles.
Who is Rajeev Chaba?
Rajeev Chaba holds multiple leadership positions within MG Motor India, including President, MD, and CEO Emeritus. He played a key role in launching the MG brand in India in the late 2020s and is credited with creating a brand that emphasizes technology, gender diversity, and community service.
During Rajeev Chaba’s tenure, MG Motor India launched four products in just 2.5 years, a notable achievement. Chaba has over 30 years of experience and has previously worked with companies such as Chevrolet, Cadillac, Opel, and Buick.
Prior to his current role at MG Motor India, Rajeev Chaba served as President and MD of GM India. He began his career in 1990 at Eicher Motors and later pursued an MBA from IIM Bengaluru.
Before joining MG Motor India, Rajeev Chaba served as the Global COO of Vanguard Logistics.