After hoisting the flag in the world of steel, JSW Group i.e. Jindal Steel Works is now placing a big bet on the electric vehicle segment. Sajjan Jindal-led JSW Group had invested about $ 1500 crore in MG Motor India a few months ago and formed a joint venture with China’s SAIC Motor, which owns the MG brand. Now he is preparing to join hands with companies like Tata and Mahindra.
Actually, JSW Group is now preparing to launch its own EV brand. Tata and Mahindra are the companies in India which are completely home grown EV brands. Now JSW Group is also going to jump into this battle. The EV segment is expanding rapidly in India.
Don’t depend on ‘Chinese company’
According to a news from ET, Sajjan Jindal says that he does not want to remain just a seller of a Chinese company (MG Motor) in India. Rather, he wants to do value addition by making the product in India itself. Want to sell those cars in India.
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MG Motor may be a British brand, but today it is owned by China’s SAIC Motor, which is a Chinese government automobile company. A few months ago, Jindal Group had formed a joint venture by purchasing 35 percent stake in MG Motor India. The first car of this joint venture, MG Windsor EV, has been launched in India and is giving tough competition to Tata Nexon EV.
Jindal will make ‘Make in India’ car
Sajjan Jindal told that he will set up a plant in Aurangabad, Maharashtra to enter the electric vehicle segment. This plant will be completely focused on EV. In October itself, JSW Group had announced an EV and commercial vehicle plant in Aurangabad by investing Rs 27,200 crore. This project of the company is expected to provide employment to about 5,200 people.
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