According to foreign media reports, Sajjan Jindal, the chairman and family owner of Indian steel manufacturer JSW, said that JSW plans to launch its own electric car brand, which marks that the company will become an important participant in India’s growing electric vehicle industry.
Prior to the announcement of the plan to launch an electric vehicle brand, JSW announced in March this year that it would set up a $ 1.5 billion joint venture with SAIC Group in March this year to produce and sell the MG brand electric vehicle in the Indian market.
Jindal said in an interview that JSW plans to establish a automotive factory in Aurangabad, Mahara Satra, western India, and will specialize in the production of own brands. This is also the first time that the company will reveal that it will use itself. There is the goal of brand production of cars.
Jindal told the media: “Our idea is not to become a outposting station for Chinese companies to sell products in India. We hope to produce products in India, add value in India, and sell in India.”
By launching its own brands, JSW will join the ranks of Indian electric vehicle manufacturers, becoming competitors from companies such as Tata Automobile, Ma Hengda and Ola Electric.
Jindal did not disclose more plans for the group’s investment or specific models. However, in October this year, the Olanda Bad Industrial Park of Mahara Shirabard welcomed JSW on the X platform, saying that the company would invest in 272 billion Indian rupees (about 3.2 billion US dollars). Electric vehicles and commercial vehicles and create 5,200 jobs.
In recent years, with the help of subsidies, the sales of electric two -wheeled vehicles in India have ushered in a sharp rise, but Indian consumers’ demand for full -size electric vehicles has still developed slowly.
This is in sharp contrast to China. In China, the government’s subsidies and incentives for manufacturers and buyers have promoted the large -scale popularization of electric vehicles.
Data from S & P Global Mobility show that Indian electric vehicles have an annual sales of about 100,000, accounting for 2%of the passenger car market. increase.
MG Motor India (MG Motor India) launched Windsor cross -border electric vehicles in September this year, selling for about $ 17,000. The company said that within a few months after the release, the model was “reserved”. The upper limit of this year’s sales was 50,000 units, because its factory capacity located in Gujarat is limited and cannot produce more models.