JSW Group to launch its own EV brand in India

The JSW Group acquired a 35% stake in MG Motor India last year.

The Sajjan Jindal-led JSW Group is set to launch its own electric vehicle brand in India.

In a recent interview, Jindal said, “Our idea is not to be an outpost of a Chinese company to sell products in India. We want to manufacture the products in India, value-add in India, and sell in India.”

As you may be aware, the JSW Group acquired a 35% stake in MG Motor India last year, as part of a $1.5 billion deal with China’s SAIC Motor.

The JSW Group also plans to invest Rs 27,200 crore in a new EV manufacturing plant in Aurangabad, Maharashtra. Jindal revealed that the new facility will be dedicated to its new EV-focused venture.

With its own EV brand, the JSW Group aims to compete with already established brands like Tata Motors, Mahindra and Hyundai. That being said, Jindal did not reveal any specific details about the planned EV models.