JSW group in talks with Geely, BYD for electric car production plans

JSW Group is in talks with Chinese automakers Geely and BYD to launch electric vehicles and e-trucks in India, aiming to establish an integrated mobility company under its JSW Green Mobility division

The JSW Group is in talks with several potential partners, including prominent Chinese companies such as Geely and BYD, with plans to launch electric cars and e-trucks under its own brand, according to a report by The Economic Times.

 

The group, led by Sajjan Jindal, is seeking collaborations involving licencing agreements or technology transfers to create a fully integrated mobility company.

 

JSW has expressed strong ambitions in the electric vehicle (EV) sector, engaging with established industry players in China. The final details of the partnerships, including the scope and areas of collaboration, are expected to be finalised in 2025, the report said citing sources.

 

New EV platforms

The conglomerate has selected two platforms each for electric cars and commercial vehicles to drive its EV initiative. This effort will be housed under a new division, JSW Green Mobility. While JSW Green Mobility will operate independently, it is expected to benefit from synergies with its existing joint venture, JSW MG Motor India.

 

Geely and BYD are two Chinese automakers that already have established markets in India. Geely owns Volvo Cars and has a stake in Lotus Cars, while BYD is making significant inroads with its direct presence in India’s growing EV market.

Growth in India’s EV market

India’s electric vehicle market has seen rapid growth, particularly in electric two- and three-wheelers. In 2024, the market reached 1.87 million units in the first 11 months, with projections indicating it could approach 2 million by year-end.

 

JSW Green Mobility has committed to investing Rs 27,200 crore in Chhatrapati Sambhajinagar, Maharashtra, to establish a facility for manufacturing electric and hybrid vehicles, The Economic Times mentioned. The project aims to produce 500,000 electric cars and 100,000 commercial vehicles annually. This venture is one of seven projects approved by the Maharashtra Cabinet in September 2024. Additionally, JSW Green Mobility has appointed Rajiv Mehta as the chief of business and hired Manoj Surana, formerly of electric bus maker Olectra Greentech, as head of homologation and technical, the report mentioned.