JSW Group mulls foray into EVs, to manufacture 4-wheelers

Sajjan Jindal-led conglomerate JSW Group is considering a foray into the manufacturing of electric vehicles, according to a top official of the group.

“The group had examined EV manufacturing plans earlier also but now it is becoming attractive,” JSW Group Chief Financing Officer Seshagiri Rao told news agency PTI.

The manufacturing of EVs is being discussed actively at the group level, he said while divulging JSW Group’s plan to expand its presence into more sectors.

The group is looking to manufacture four-wheelers, Rao said. He said that the manufacturing location is yet to be decided.

On the timeline for the launch of an EV manufacturing facility, he said, “it (plan) is at advanced stages.”

JSW Group company JSW Steel owns and operates a one million tonne per annum (MTPA) steel plant at Salem in Tamil Nadu. The company manufactures auto-grade steel at Salem plant and supplies the high-value steel to automobile companies including the EVs makers.

Besides, the $22 billion group has a significant presence in sectors like energy, infrastructure, cement, paints, venture capital and sports.

conglomerate JSW Group has collaborated with ElectricPe to develop electric vehicle charging infrastructure across its office network.

This follows the introduction of a green policy by JSW recently to provide incentives for employees to purchase electric vehicles and provide charging infrastructure in its office and plant premises.

ElectricPe has already enabled the required charging infrastructure at JSW’s Mumbai headquarters. The firm will soon expand its services to JSW offices in Vasind, Dolvi, Vijayanagar, Sholtu, and Jharsuguda, respectively, a company statement said

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