JSW in talks with China’s Geely, BYD, others to roll out electric cars: report

Sajjan Jindal-owned JSW Group is in talks with multiple entities, including Chinese electric vehicle (EV) makers Geely and BYD, to roll out electric cars and e-trucks under its own brand in India, The Economic Times reported, citing multiple people aware of the company’s plans.

The terms of cooperation may reportedly involve a technology transfer or licensing agreement and the nature of the partnership is likely to be firmed up next year.

The potential collaboration for a full-fledged mobility company will be in addition to its existing joint venture (JV) with China’s SAIC Motor, the report said, adding that the business is likely to be housed under JSW Green Mobility.

JSW MG Motor India, the conglomerate’s existing JV, will have synergies with its upcoming full-fledged mobility company but operations will be kept separate, the report said.

The conglomerate has also selected platforms comprising two each for electric cars and commercial vehicles for its own EV drive, the report added.

Volvo, wholly owned by Geely, and Lotus cars, which is partially owned by the Chinese automaker, already have an indirect presence in the Indian market.

BYD, on the other hand, has a direct presence in the Indian market.

JSW recently announced plans to invest Rs27,200 crore ($3.17 billion) in a green mobility plant in Chhatrapati Sambhajinagar, central Maharashtra.

The plant can manufacture 500,000 electric and hybrid cars and 100,000 commercial vehicles annually. In September this year, the central government gave its approval.

The group appointed Rajiv Mehta as chief of business and Manoj Surana, an ex-Olectra Greentech senior executive, as its Green Mobility company’s head of homologation and technical.