JSW in talks with China's Geely for EV joint venture

The JSW Group is looking to launch its own electric vehicle brand in India.

The JSW Group is reportedly in talks with Chinese automaker Geely for an electric vehicle joint venture. The company is betting heavily on the Indian EV market and is interested in launching a range of passenger and commercial EVs.

The JSW Group has ambitious plans for India. The company is looking to launch its own electric vehicle brand. It also plans to set up a dedicated EV manufacturing facility with an investment of Rs 27,200 crore.

Sajjan Jindal-led JSW Group currently owns a 35% stake in MG Motor India, which is part of China’s SAIC. However, this partnership is not exclusive, and JSW is free to seek more partnerships. It is said that SAIC did not offer JSW a majority stake in MG, which could be a sticking point.

JSW has had talks with other brands for a potential partnership in the past as well. The company was in advanced negotiations with Ford, which did not go through. It also had talks with Volkswagen at one point.

Source: TOI