Electric vehicle sales in India have been growing at a fairly fast clip over the past 12-18 months. But, the overall industry is still at a nascent stage, with sales accounting for less than 5 per cent of the total vehicle sales in the country. The entry of strong business groups like JSW in this space could give it a shot in the arm.
'One of the key focus areas of this joint venture will be to pursue the development of the EV ecosystem and to take a leadership position in this space,' says JSW Group’s Parth Jindal
JSW Group picks up 35% stake in SAIC Motors' India venture - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
JSW Group’s stake purchase in the Chinese EV major MG Motor India to likely help it grow its capacity to 300,000 units a year by adding a new plant in Gujarat.