The JSW Group has dismissed rumors about acquiring stakes in MG Motor and BYD India. The companies are reportedly facing fund-raising constraints and have been in negotiations with Indian partners. JSW Group CFO had earlier confirmed the company's intention to manufacture four-wheelers, but did not divulge further details. Sales of MG Motor in India were 48,000 units in 2022, and the company plans to double the number this year. Rajeev Chaba, MD of MG in India, revealed the company's readiness to dilute its stake in the India business to raise funds for expansion.
