News, 2 January, 2025
JSW is negotiating with many automotive manufacturers for electric vehicles. Chinese auto giant Geely is one of the OEMs that JSW is negotiating with, according to people with firsthand knowledge of the situation.
According to insiders, JSW is placing large bets on the Indian EV market and is considering introducing a number of EV models, including both passenger and commercial cars.
Presently, the JSW Group owns 35% of MG Motors India, Everstone Capital, a private equity group, owns 8%, and MG dealers and staff hold the other 8%. The remaining 49% is held by SAIC.
About JSW
JSW Steel is one of India’s leading steel manufacturers and part of the larger JSW Group, which operates in various sectors, including energy, infrastructure, and cement. Established in 1994, JSW Steel has emerged as a major player in the Indian steel industry, known for its commitment to sustainability and innovation. The company primarily produces flat and long steel products used in various applications, such as construction, automotive, and manufacturing.
Headquartered in Mumbai, JSW Steel operates several manufacturing facilities across India, utilizing advanced technology and processes to enhance production efficiency and reduce environmental impact. The company is recognized for its efforts in adopting green practices, including the use of renewable energy sources and initiatives aimed at reducing carbon emissions.
JSW Steel has also expanded internationally, acquiring operations in countries like the United States and making investments in raw material sources to secure its supply chain. Through its focus on quality products and sustainable practices, JSW Steel plays a significant role in India’s economic development and infrastructure growth.
About Geely
Geely Automobile Holdings Limited is a prominent Chinese automotive manufacturer headquartered in Hangzhou, Zhejiang province. Founded in 1986, Geely initially started as a refrigerator parts manufacturer before transitioning into the motorcycle industry and finally entering the automobile sector in 1997. Since then, Geely has rapidly expanded its product line to include a variety of passenger cars, SUVs, and electric vehicles.
Geely is best known for its significant investments in international automotive brands, notably acquiring Volvo Cars from Ford in 2010 and the luxury brand Polestar, which focuses on electric performance vehicles. The company also holds stakes in other brands, including Daimler AG, enhancing its global footprint and technological capabilities.
Geely is committed to innovation and sustainability, aiming to lead in electric vehicle production. The company has focused on developing its electric and hybrid vehicle models in response to increasing environmental regulations and consumer demand for greener technologies. With a robust research and development framework, Geely continues to explore new automotive technologies, including autonomous driving and connectivity features.
Through strategic partnerships and continuous innovation, Geely has positioned itself as a significant player in the global automotive market, leveraging both local expertise and international acquisition to improve its market competitiveness.
