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News Topical, Digital Desk : Sajjan Jindal-led JSW Group is preparing to enter the Indian passenger vehicle market with its own in-house brand. According to media reports, JSW Group is aiming to launch its first vehicle in the third quarter (December quarter) of the next financial year through its new unit, JSW Motors, in addition to its existing partnership with MG Motor India. This move reflects JSW's significant presence in the world's third-largest automobile market.
Speaking at the World Hindu Economic Forum, JSW Group Chairman Sajjan Jindal stated that the group is working on cutting-edge technology partnerships with several countries, including China, Germany, and the United Kingdom. He explained that under JSW Motors, the company will focus on hybrid and electric vehicles and plans to bring the best global technologies to India. JSW's passenger vehicle business will enter the clean fuel segment, where it will challenge established companies like Tata Motors, Mahindra & Mahindra, Hyundai Motor India, and Maruti Suzuki through hybrid and electric vehicles. The group is also finalizing partnerships for the lithium-ion battery business, which will power both passenger and commercial vehicles. Jindal stated that a technology partnership for lithium-ion batteries is underway and will be established in Nagpur. JSW Group plans to develop up to 50 GWh of battery capacity in this region, strengthening the EV ecosystem in India. It is worth noting that the JSW Group is already present in the automobile sector through JSW MG Motor India, a joint venture with the Chinese company SAIC, starting in 2023. Indian investors, including the JSW Group and Everstone Capital, hold a 51 percent stake in this company. The Indian consortium now plans to increase its stake in MG Motor India beyond 51 percent. While MG Motor India's sales are growing rapidly and it has become the country's second-largest EV manufacturer, the JSW Group is now moving towards establishing an independent identity in India's automobile sector by establishing a completely new, indigenous auto brand.
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