Meet Rajeev Chaba, who spearheads MG; Mukesh Ambani may soon start selling his firm's cars if...

MG Motor India, a British-origin and Chinese-owned company, will have an Indian owner in the next years. The company is in talks with several people to dilute its stake in the company, including financial institutions and high networth individuals. The company's CEO, Rajeev Chaba, has told the media that they are indeed in talks with several people, but nothing has been finalised yet. He said its ownership, board and shareholding will be "indianised". He said by 2028, the company will bring an IPO and will also invest Rs 5000 crore in the market and have a 20000-strong workforce.

One of the prospective buyers of the company's stake is none other than Mukesh Ambani, the richest man in Asia, reported ET.

The company originated in Britain but is owned by Chinese company SAIC. Many Indian companies like Reliance, Hero, Premji Invest and JSW Group are reportedly in discussions for a stake in the firm. The paper reported that the company is involved in hectic discussions with these companies for a good valuation as they immediately need money for the next phase of expansion. The company reportedly has been trying to secure regulatory permissions to raise funds from its parent company. However, in the absence of that, it is looking for other avenues.

Chaba said the company wants to Indianise operations. The company will soon begin manufacturing from its Halol Plant which it had bought from General Motors. The company will soon launch 5 new cars, mostly electric vehicles.

Who is Rajeev Chaba?

Chaba is the President and MD of MG Motor India. He is also the CEO Emeritus. He launched the MG brand in India in the late 2020s. The company credits him with making a brand that is focussed on technology, gender diversity and community service.

Under him, the company launched four products in just 2.5 years. He has over 30 years of experience. He has worked for companies like Chevrolet, Cadillac, Opel and Buick, in the past.

He has worked with GM, India, as the President and MD. He began his career in Eicher Motors in 1990. He did his MBA from IIM Bengaluru.

Before joining MG, he was the Global COO of Vanguard Logistics.