NEW DELHI: Sajjan Jindal, Chairman of JSW Group, said on Friday that MG Motor would be their preferred choice to enter the electric vehicle (EV) market. Jindal also noted that they are also working on a parallel plan to make their own EVs.
“We are extremely serious about entering the EV space.MG would be our preferred choice. If it happens, otherwise we are also working parallel to develop our own EV cars,” Jindal said on the sidelines of B20 Summit India 2023.
He added that EV is an area that JSW Group must enter as it is the future and this is a good time to make a foray into this space.
JSW Group, which has a presence in sectors like steel, energy, infrastructure, cement, paints, venture capital, and sports, has shown its interest in entering the electric mobility space for the past some time now but its efforts are said to have escalated after holding talks with MG Motor which is scouting for an Indian partner to avoid regulatory hurdles.
MG Motor in May this year had said that they are planning to sell a majority stake in its India operation to a local partner (or partners) in the next two to four years.