Business
JSW Group Mulls Foray Into EVs, Likely To Manufacture Electric Four-Wheelers
PTI
Jan 02, 2023, 09:31 AM | Updated 09:31 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
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 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.
When asked about details of the manufacturing location, he said it 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 USD 22 billion group has a significant presence in sectors like energy, infrastructure, cement, paints, venture capital and sports.
(This story has been published from a wire agency feed without any modifications to the text. Only the headline has been changed.)
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.