JSW Group, which already has an electric vehicle (EV) partnership with China's SAIC, is seeking to expand its mobility business by entering various segments, including electric buses, trucks, cars, and battery manufacturing.

This expansion will be pursued through technology partnerships with multiple companies.

"Regardless of what the competition is doing, efforts in the new energy vehicle sector remain insufficient. JSW has its own ambitions in this space and is investing in Aurangabad to develop the JSW mobility business," stated Parth Jindal, Director of JSW MG Motor India, at the Bharat Mobility Global Expo.

The group is expected to invest approximately US$ 1 billion to launch an independent range of cars, trucks, and buses under the JSW brand.

JSW is also considering establishing a new manufacturing facility in Odisha. "Currently, we have commenced work in Aurangabad. This does not mean we are shifting focus away from Odisha. Investments in Odisha will continue, and further investments will follow in due course, but these will take more than two years. As a group, we consistently explore opportunities in various states," Jindal explained.

SAIC partnership

Jindal highlighted the potential for growth within the existing joint venture with MG Motor.

"With JSW MG, we believe we have only scratched the surface. The joint venture is strong, and there is significant opportunity in India. Presently, we hold a marginal 1.5% market share in the country, and JSW is committed to achieving a top-three position in any industry we operate in," he stated.

He further outlined JSW's ambition for JSW MG to become one of the top three players in the market while leading in the new energy vehicle segment.

"There is substantial opportunity in this sector, and with JSW MG and the broader JSW Group, we aim to realise this potential and scale the business for both the group and our partners. While we are not seeking an equity partner, we are looking for a technology partner to achieve this vision," Jindal further added.