This Indian company will launch electric car and e-truck with a Chinese company! What is the plan of JSW Group?
Chinese companies continue to work closely with Indian companies. Another company may soon be added to this list. In fact, JSW Group is in talks with Chinese companies to increase its electric vehicle capacity. After reaching a final conclusion, the group will start working closely with Chinese companies.
According to the Economic Times, JSW Group is planning to launch electric cars and e-trucks under its own brand. For this, the group is in talks with major Chinese companies like Geely and BYD for partnership. Let us tell you that India’s EV market, led by electric two-wheelers and three-wheelers, reached 1.87 million units in the first 11 months of 2024. By the end of the year, it may be slightly below the 2 million mark.
Planning may be completed in the year 2025
A person aware of the group’s planning said that the Sajjan Jindal-owned group is looking for collaboration. This may include a possible licensing agreement or technology transfer for a full-fledged mobility company in addition to the existing joint venture with China’s SAIC Motor. It is believed that this planning of JSW Group can be completed in the year 2025.
What is the group’s plan?
According to experts, the group has also chosen two platforms each for electric cars and commercial vehicles for its own EV drives. The business is likely to be housed under JSW Green Mobility.
Sources said the existing joint venture, JSW MG Motor India, will have synergy with JSW Green Mobility, but both will operate independently.
Who are Geely and BYD companies?
Geely is the parent company of Volvo Cars. At the same time, it is a part-owner company of Lotus Cars. This company is present in India through these brands. BYD has a direct presence in the Indian market in India’s emerging EV market.
JSW Green Mobility plans to invest Rs 27,200 crore in Chhatrapati Sambhajinagar, Maharashtra to manufacture electric and hybrid cars. It will make 500000 electric cars and 100000 commercial vehicles per year. This was one of the seven projects approved by the state cabinet in September 2024. In September, the company appointed Rajiv Mehta as the business head.
