China's SAIC to cut stake in India car venture amid investment curbs, sources say

NEW DELHI (Reuters) -China's SAIC Motor will slash its 49% stake in its Indian joint venture and halt further investment, five people said, the latest sign of how political tension between the Asian neighbours is spilling over into business. SAIC's decision comes after India introduced limits on investment from its neighbours in 2020, a move widely seen as being aimed at China. To try and grow in India, SAIC, one of China's largest state-owned auto companies, opted to tie up with local conglomerate JSW Group.