Striving to expand its portfolio, JSW Group, the Sajjan Jindal-led conglomerate has been looking to make its debut into electric vehicle or EV manufacturing.
“The group had previously examined EV manufacturing plans but now it’s becoming attractive,” stated Seshagiri Rao, JSW Group Chief Financial Officer.
He said that the manufacturing of EVs was being discussed at the group level while revealing JSW’s plans to expand its presence in other sectors.
Rao stated that the group plans to make four-wheelers. Rao said that the location of manufacturing is still to be determined. He stated that the timeline for the launch of an EV manufacturing plant was in the advanced stages.
JSW Steel, a JSW Group company, owns and manages a 1 million tonne per year (MTPA), a steel plant in Salem, Tamil Nadu. The company produces auto-grade steel at Salem and supplies high-value steel for automobile companies, including EV manufacturers.
The $22 billion group also has significant investments in sectors such as energy, infrastructure, cement paints, venture capital, and sports.
JSW Group, a conglomerate, has teamed up with ElectricPe in order to build electric vehicle charging infrastructure throughout its office network.
This is in response to JSW’s recent introduction of a green strategy to encourage employees to buy electric vehicles and install charging infrastructure at its plant and office.
ElectricPe has already provided the necessary charging infrastructure for JSW’s Mumbai headquarters. According to a company statement, the firm will soon extend its services to JSW offices at Vasind, Vijayanagar, Dolvi, Sholtu, and Jharsuguda.