JSW looks to decouple auto supply chain from China – Times of India
NEW DELHI: After acquiring a sizeable stake in MG Motor India, JSW group chief Sajjan Jindal is now going on an overdrive when it comes to manufacturing of green vehicles and broadening his play in the automobile industry.
The company has informed the Odisha govt that it will set up a 3-lakh-unit per annum capacity factory for electric cars and SUVs in the state, apart from a one-lakh annual capacity plant for green commercial vehicles, with supply chain “de-coupled from China”, Jindal told TOI.
Importantly, he intends to have these products priced similar to the current petrol/diesel vehicles. With this, Jindal plans to not only take on major carmakers such as Mahindra & Mahindra, Tata Motors, Hyundai and market leader Maruti, but also go after formidable commercial vehicle makers like Ashok Leyland, Tatas, Volvo Eicher, and BharatBenz.
JSW, which has outlined a plan to invest Rs 40,000 crore in the state, is building its green strategy in Odisha around its own 50Gwh battery plant which – when operational – will be used for both mobility and energy storage needs, the sources said.
JSW will be one of the first top industrial groups to tap into Odisha for an automobile manufacturing facility, something he also highlighted in his meeting with state CM Naveen Patnaik.
Jindal said that he sees Odisha transitioning from a “mineral-based economy to a knowledge-based economy” that is centred around sustainability. “Our EV project is the offshoot of that consistent effort & vision,” he is understood to have said as the businessman highlighted that Odisha could be the first state where combustion engines can be eliminated. “We seek to redefine the way people commute and power their lives by enhancing EV penetration,” he is understood to have said.