The conglomerate is also working toward establishing a state-of-the-art EV production facility dedicated to its in-house brand in Aurangabad, Maharashtra.
Sajjan Jindal’s JSW Group, is set to launch its electric vehicle (EV) brand, marking a significant expansion into India’s burgeoning EV market. This initiative follows the company’s earlier collaboration with China’s SAIC Motor, the manufacturer of MG vehicles, to produce and market MG EVs in India. In November 2023, JSW Group entered into a strategic joint venture with SAIC Motor, acquiring a 35 percent stake in MG Motor India. This partnership aims to accelerate the growth of MG Motor’s operations in India, strongly emphasising green mobility solutions.
The group is also working toward establishing a state-of-the-art EV production facility dedicated to its in-house brand in Aurangabad, Maharashtra. This significant investment of Rs 27,200 crore ($3.2 billion), confirmed by the Aurangabad Industrial City (AURIC), is set to generate over 5,200 jobs. The facility will not only contribute to local employment. Still, it will also pave the way for the production of both passenger and commercial electric vehicles, marking a pivotal step towards sustainable transportation.
Many car manufacturers are making significant strides in the Indian EV market, showcasing their commitment to a sustainable future. Industry giants like Tata Motors and Mahindra & Mahindra are leading the charge, alongside innovative newcomers such as Ola Electric, which are reshaping the landscape. Two-wheeler frontrunner Hero Electric is also making waves, while Ashok Leyland is paving the way for greener public transport with its electric buses under the Switch Mobility brand. With these players at the forefront, the Indian EV sector is poised for remarkable growth and transformation.
Electric two-wheelers have seen significant adoption in India, with electric two-wheelers (E2Ws) accounting for approximately 56 percent of total EV sales in FY2024, amounting to 944,082 units. In contrast, electric passenger cars and SUVs have experienced slower uptake, comprising about 5 percent of total EV sales in FY2024, with 90,379 units sold. However, recent trends indicate a positive shift. In November 2024, electric car sales increased by 18 percent compared to the same month in the previous year, reaching 8,357 units. This growth is attributed to introducing new models such as Tata Motors’ Curvv EV, Kia’s EV9, and Mahindra & Mahindra’s BE 6e and XEV 9e.
In comparison, China stands at the forefront of electric vehicle (EV) innovation, thanks to its robust subsidies and incentives that have spurred widespread adoption. According to Al Jazeera, with an impressive 58 percent share of global EV production, the nation leads the world in this transformative industry. Meanwhile, in the United States, Tesla, under the visionary leadership of Elon Musk, remains a powerful force in the market, driving the future of sustainable transportation.
