Indian steel magnate Sajjan Jindal is reportedly forming a new company by acquiring a stake in MG Motor India, a unit of Chinese company SAIC, and purchasing Ford's factory in Chennai. Jindal is also in talks with Chinese auto company Leapmotor to license their technology for electric vehicles. The deal between Jindal's entity and MG Motor is said to be imminent, providing MG Motor with the necessary funds to expand its India business. Jindal would gain access to technologies and vehicle platforms through the partnership.