JSW Group, one of India’s leading industrial conglomerates, is set to enter the electric vehicle (EV) market with plans to launch its own EVs by 2027, Chairman Sajjan Jindal announced during the World Economic Forum in Davos on Tuesday.
Speaking in an interview with ANI, Jindal shared the group’s commitment to sustainable transportation, emphasizing the importance of reducing India’s reliance on imported fuel. “By 2027, we hope to launch our own JSW EV. We’re investing heavily in research and development, and this is a critical step for us,” he said. “Electric mobility is one key area where we can reduce dependence on imported fuel.”
JSW Group’s existing partnership with MG Motors for EV production was also highlighted, with Jindal revealing plans to expand their manufacturing capabilities. “JSW MG is already producing electric vehicles, and we are scaling up our capacity. At the same time, JSW Auto will introduce its own EV in the next 2 to 2.5 years,” he added.
Jindal also addressed the growth potential of India’s steel sector, noting the country’s increasing consumption and production. While China remains the world’s largest producer and consumer of steel, Jindal sees a significant opportunity for India to close the consumption gap. “India is the second-largest producer and consumer of steel globally, and we anticipate rapid growth ahead. We are on track to bridge the gap with China, as China’s steel consumption slows while India’s demand is poised to rise,” he explained.
As India embarks on large-scale infrastructure projects, urbanization, and industrial expansion, Jindal expects the country to become a key driver of global steel demand.
Jindal also commended Prime Minister Narendra Modi’s vision for India’s industrial future. “The Prime Minister’s push for growth across various sectors, including infrastructure, renewable energy, green mobility, and artificial intelligence, presents immense opportunities,” he said. “The canvas is wide open for investment and innovation in these areas.”
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