JSW Group is ramping up its electric mobility ambitions with fresh investments in its auto business and plans for a major fundraise. The conglomerate has infused $115 million (₹1,000 crore) into its wholly owned subsidiary, JSW Green Mobility, through optionally convertible debentures, according to recent filings with the Ministry of Corporate Affairs.
The capital will be used for investments in subsidiaries, new projects, debt servicing, and general corporate purposes. This move comes as the group doubles down on its strategy to expand in the electric and hybrid vehicle segment.
At the same time, JSW is preparing for a $300 million external equity fundraise in its joint venture with SAIC-owned MG Motor India. Nearly 14 funds have shown interest, with the proposal likely to be finalised in an upcoming board meeting scheduled for September.
JSW Green Mobility is currently developing four electric and hybrid models across passenger and commercial vehicle categories. The first model is expected to debut in the next financial year, with production planned at the company’s new manufacturing facility in Chhatrapati Sambhajinagar, Maharashtra.
The MG Motor India joint venture is also seeking capital to accelerate operations and expand product offerings in the competitive EV market.
With these strategic investments, JSW Group is positioning itself as a serious player in India’s green mobility ecosystem, focusing on localised manufacturing and value addition to meet rising demand for affordable electric vehicles.
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