JSW Group Aims to Expand Mobility Business with $1 Billion Investment

Indore (Madhya Pradesh): JSW Group, which has already forged an electric vehicle tie-up with China's SAIC Motor Corporation, is planning to expand its mobility business into various segments such as electric buses, trucks, and cars through technology partnerships.

The group's Director, Parth Jindal, announced plans to invest around $1 billion to launch its own independent range of vehicles under the JSW brand. JSW MG, its erstwhile joint venture with SAIC Motor, will play a key role in this expansion.

"We believe that our JSW MG joint venture has tremendous potential for growth," Jindal said at the Bharat Mobility Global Expo. "We aim to become one of the top three players in the industry and number one in new energy vehicles."

Jindal stated that JSW's existing market share in India is 1.5%, but he expressed his ambition to scale up this business, leveraging its partnership with SAIC.

"This joint venture offers a large opportunity for us, and we're confident that we can fulfill it," he said, highlighting the group's focus on electric vehicles and new energy solutions.

JSW Group has also identified a new manufacturing facility in Odisha for expanded operations. Although work is currently underway in Aurangabad for its JSW mobility business, Jindal noted that investments in multiple states are being considered to capitalize on emerging opportunities.

Following up with Saic Tie-up "When it comes to JSW MG, we believe that we have just scratched the surface in this company," he also stated.  There is a huge opportunity and with JSW MG and JSW, we should be able to fulfill that opportunity.