Sajjan Jindal-led Indian multinational conglomerate
JSW Group is planning to venture into manufacturing electric vehicles (EVs) in the country. The group is looking to manufacture four-wheelers, said Seshagiri Rao, Chief Financing Officer of JSW Group.
Rao said, "The group had examined EV manufacturing plans earlier also, but now it is becoming attractive," reported news agency PTI.
According to Rao, EV manufacturing is being discussed actively at the group level. He further revealed that JSW Group is also looking to expand its presence into more sectors.
While answering a query about the details of the manufacturing location, Rao said it is yet to be decided.
The CFO, while informing about the timeline for the launch of the EV manufacturing facility, 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 already manufactures auto-grade steel at the Salem plant and supplies it to automobile companies including the EVs makers.
In addition, the $22 billion group also has a significant presence in other industries like energy, infrastructure, cement, paints, venture capital and sports.
