Company already has joint venture with China’s SAIC in world’s third-largest car market
JSW plans to launch its own electric vehicles brand, its chair and family owner Sajjan Jindal has said, signalling a move by the Indian steelmaker to become a significant player in the country’s growing EV sector. JSW’s plans for its own in-house EV brand follow its announcement in March of a $1.5bn joint venture with
Motor to build and sell the Chinese carmaker’s MG-brand EVs in the world’s most populous country and third-largest car market. In an interview with the Financial Times, Jindal said JSW’s planned car plant in Aurangabad in India’s western Maharashtra state would be devoted to its own brand, revealing for the first time an aim to build vehicles under its own name. “Our idea is not to be an outpost of a Chinese company to sell products in India,” Jindal told the FT.
entered the JV with JSW after finding that cash for its operation in India was “not coming through” because of government controls, Jindal said. did not respond to a request for comment. Separately, Jindal described an expected US-China decoupling under Donald Trump’s incoming administration as “a great opportunity for India” because the US would be “friendly” towards it, even as he raises tariffs on goods from China and other countries.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bernard Looney to chair US start-up as he plans comeback from BP scandalFormer oil company chief joins company building $10bn artificial intelligence data centre in Wyoming
Read more »
Indian billionaire Gautam Adani charged in US over alleged $250mn bribery schemeShares in group tumble after prosecutors accuse tycoon and others of lying to investors to land lucrative contracts
Read more »
Radio presenter who says she was axed because of her Indian accent loses race discrimination claim...Soma Sarkar told a tribunal that she had been a victim of race discrimination when managers at Lyca Radio dropped her from a daily show she had presented for two years.
Read more »
Indian Man Saved From Funeral Pyre After Being Mistakenly Declared DeadRohitash Kumar, 25, was declared dead at a hospital in India and sent for cremation without a proper post-mortem examination. He was saved at the last moment when witnesses noticed him moving on the funeral pyre.
Read more »
Indian Americans are determined to help Harris win PennsylvaniaThe second largest ethnic community in Pennsylvania could make the difference in electing one of their own to the White House
Read more »
Indian investors lukewarm over Swiggy’s $1.3bn listingThe food delivery app’s IPO has landed during a backdrop of dismal earnings across the corporate subcontinent
Read more »