NEW DELHI
South Korea's LG Energy Solution (LGES) is engaging in detailed talks with JSW Energy to create a joint venture for battery manufacturing. The proposed partnership involves an equal collaboration where LGES will contribute technological expertise and manufacturing equipment, while JSW Energy will provide financial investment. 
The companies are contemplating establishing a manufacturing plant with a total capacity of 10 gigawatt-hours, with JSW expected to utilise approximately 70% of the production for energy storage and electric vehicle applications.
Sources familiar with the discussions, who spoke on condition of anonymity due to the private nature of the negotiations, indicated that the agreement remains non-binding. Both companies anticipate finalising the talks in the coming months, with a potential operational timeline targeting completion before the end of 2026.
For LGES, this joint venture represents a strategic expansion in the Indian market. The company currently supplies batteries to global automotive manufacturers including Tesla, General Motors, and Hyundai. In India, LGES is already a leading battery supplier to electric two-wheeler manufacturers such as Ola Electric and TVS Motor.
The proposed partnership also offers LGES an opportunity to mitigate manufacturing risks in a nascent EV market. With global EV demand experiencing slower growth, the company has already planned to reduce capital expenditure in the coming year.
JSW Energy, led by billionaire chairman Sajjan Jindal, views this venture as a critical step in securing local battery supply for its emerging electric vehicle ambitions. The company has previously formed a joint venture with China's SAIC Motor, acquiring a 35% stake in the Chinese carmaker's Indian unit, MG Motor.
According to sources, JSW has proposed a 25-year agreement to LGES and continues to engage with other battery manufacturers. The long-term commitment underscores the strategic importance of this potential collaboration.
The potential venture aligns closely with the Indian government's aggressive push to boost domestic manufacturing of clean automotive technologies. Prime Minister Narendra Modi's administration has been offering substantial financial incentives to encourage local production in the EV sector.
Currently, the Indian EV market is dominated by domestic manufacturers. Tata Motors and MG Motor lead electric car sales, while home-grown brands like Ola, TVS, and Bajaj Auto are prominent in the electric two-wheeler segment.
LGES has maintained a measured response, stating that they are "exploring various potential business options and monitoring market situations closely". JSW Energy has similarly refrained from public comment on the ongoing discussions.
The potential USD 1.5 billion investment highlights the increasing global interest in India's rapidly evolving electric mobility ecosystem. As countries worldwide accelerate their transition towards sustainable transportation, partnerships like this could play a crucial role in developing robust, localised battery manufacturing capabilities.

LG Energy Solution and JSW Energy are in advanced discussions to establish a joint battery production facility in India, potentially investing over USD 1.5 billion.

 



NEW DELHI South Korea's LG Energy Solution (LGES) is engaging in detailed talks with JSW Energy to create a joint venture for battery manufacturing. The proposed partnership involves an equal collaboration where LGES will contribute technological expertise and manufacturing equipment, while JSW Energy will provide financial investment. The companies are contemplating establishing a manufacturing plant with a total capacity of 10 gigawatt-hours, with JSW expected to utilise approximately 70% of the production for energy storage and electric vehicle applications. Sources familiar with the discussions, who spoke on condition of anonymity due to the private nature of the negotiations, indicated that the agreement remains non-binding. Both companies anticipate finalising the talks in the coming months, with a potential operational timeline targeting completion before the end of 2026. For LGES, this joint venture represents a strategic expansion in the Indian market. The company currently supplies batteries to global automotive manufacturers including Tesla, General Motors, and Hyundai. In India, LGES is already a leading battery supplier to electric two-wheeler manufacturers such as Ola Electric and TVS Motor. The proposed partnership also offers LGES an opportunity to mitigate manufacturing risks in a nascent EV market. With global EV demand experiencing slower growth, the company has already planned to reduce capital expenditure in the coming year. JSW Energy, led by billionaire chairman Sajjan Jindal, views this venture as a critical step in securing local battery supply for its emerging electric vehicle ambitions. The company has previously formed a joint venture with China's SAIC Motor, acquiring a 35% stake in the Chinese carmaker's Indian unit, MG Motor. According to sources, JSW has proposed a 25-year agreement to LGES and continues to engage with other battery manufacturers. The long-term commitment underscores the strategic importance of this potential collaboration. The potential venture aligns closely with the Indian government's aggressive push to boost domestic manufacturing of clean automotive technologies. Prime Minister Narendra Modi's administration has been offering substantial financial incentives to encourage local production in the EV sector. Currently, the Indian EV market is dominated by domestic manufacturers. Tata Motors and MG Motor lead electric car sales, while home-grown brands like Ola, TVS, and Bajaj Auto are prominent in the electric two-wheeler segment. LGES has maintained a measured response, stating that they are "exploring various potential business options and monitoring market situations closely". JSW Energy has similarly refrained from public comment on the ongoing discussions. The potential USD 1.5 billion investment highlights the increasing global interest in India's rapidly evolving electric mobility ecosystem. As countries worldwide accelerate their transition towards sustainable transportation, partnerships like this could play a crucial role in developing robust, localised battery manufacturing capabilities.

LG Energy Solution and JSW Energy explore major battery manufacturing venture

South Korea's LG Energy Solution (LGES) is engaging in detailed talks with JSW Energy to create a joint venture for battery manufacturing. The proposed partnership involves an equal collaboration where LGES will contribute technological expertise and manufacturing equipment, while JSW Energy will provide financial investment.&nbsp;

The companies are contemplating establishing a manufacturing plant with a total capacity of 10 gigawatt-hours, with JSW expected to utilise approximately 70% of the production for energy storage and electric vehicle applications.

Sources familiar with the discussions, who spoke on condition of anonymity due to the private nature of the negotiations, indicated that the agreement remains non-binding. Both companies anticipate finalising the talks in the coming months, with a potential operational timeline targeting completion before the end of 2026.

For LGES, this joint venture represents a strategic expansion in the Indian market. The company currently supplies batteries to global automotive manufacturers including Tesla, General Motors, and Hyundai. In India, LGES is already a leading battery supplier to electric two-wheeler manufacturers such as Ola Electric and TVS Motor.

The proposed partnership also offers LGES an opportunity to mitigate manufacturing risks in a nascent EV market. With global EV demand experiencing slower growth, the company has already planned to reduce capital expenditure in the coming year.

JSW Energy, led by billionaire chairman Sajjan Jindal, views this venture as a critical step in securing local battery supply for its emerging electric vehicle ambitions. The company has previously formed a joint venture with China's SAIC Motor, acquiring a 35% stake in the Chinese carmaker's Indian unit, MG Motor.

According to sources, JSW has proposed a 25-year agreement to LGES and continues to engage with other battery manufacturers. The long-term commitment underscores the strategic importance of this potential collaboration.

The potential venture aligns closely with the Indian government's aggressive push to boost domestic manufacturing of clean automotive technologies. Prime Minister Narendra Modi's administration has been offering substantial financial incentives to encourage local production in the EV sector.

Currently, the Indian EV market is dominated by domestic manufacturers. Tata Motors and MG Motor lead electric car sales, while home-grown brands like Ola, TVS, and Bajaj Auto are prominent in the electric two-wheeler segment.

LGES has maintained a measured response, stating that they are "exploring various potential business options and monitoring market situations closely". JSW Energy has similarly refrained from public comment on the ongoing discussions.

The potential USD 1.5 billion investment highlights the increasing global interest in India's rapidly evolving electric mobility ecosystem. As countries worldwide accelerate their transition towards sustainable transportation, partnerships like this could play a crucial role in developing robust, localised battery manufacturing capabilities.

South Korea's LG Energy Solution (LGES) is engaging in detailed talks with JSW Energy to create a joint venture for battery manufacturing. The proposed partnership involves an equal collaboration where LGES will contribute technological expertise and manufacturing equipment, while JSW Energy will provide financial investment.

South Korea's LG Energy Solution (LGES) is engaging in detailed talks with JSW Energy to create a joint venture for battery manufacturing. The proposed partnership involves an equal collaboration where LGES will contribute technological expertise and manufacturing equipment, while JSW Energy will provide financial investment. The companies are contemplating establishing a manufacturing plant with a total capacity of 10 gigawatt-hours, with JSW expected to utilise approximately 70% of the production for energy storage and electric vehicle applications. Sources familiar with the discussions, who spoke on condition of anonymity due to the private nature of the negotiations, indicated that the agreement remains non-binding. Both companies anticipate finalising the talks in the coming months, with a potential operational timeline targeting completion before the end of 2026. For LGES, this joint venture represents a strategic expansion in the Indian market. The company currently supplies batteries to global automotive manufacturers including Tesla, General Motors, and Hyundai. In India, LGES is already a leading battery supplier to electric two-wheeler manufacturers such as Ola Electric and TVS Motor. The proposed partnership also offers LGES an opportunity to mitigate manufacturing risks in a nascent EV market. With global EV demand experiencing slower growth, the company has already planned to reduce capital expenditure in the coming year. JSW Energy, led by billionaire chairman Sajjan Jindal, views this venture as a critical step in securing local battery supply for its emerging electric vehicle ambitions. The company has previously formed a joint venture with China's SAIC Motor, acquiring a 35% stake in the Chinese carmaker's Indian unit, MG Motor. According to sources, JSW has proposed a 25-year agreement to LGES and continues to engage with other battery manufacturers. The long-term commitment underscores the strategic importance of this potential collaboration. The potential venture aligns closely with the Indian government's aggressive push to boost domestic manufacturing of clean automotive technologies. Prime Minister Narendra Modi's administration has been offering substantial financial incentives to encourage local production in the EV sector. Currently, the Indian EV market is dominated by domestic manufacturers. Tata Motors and MG Motor lead electric car sales, while home-grown brands like Ola, TVS, and Bajaj Auto are prominent in the electric two-wheeler segment. LGES has maintained a measured response, stating that they are "exploring various potential business options and monitoring market situations closely". JSW Energy has similarly refrained from public comment on the ongoing discussions. The potential USD 1.5 billion investment highlights the increasing global interest in India's rapidly evolving electric mobility ecosystem. As countries worldwide accelerate their transition towards sustainable transportation, partnerships like this could play a crucial role in developing robust, localised battery manufacturing capabilities.

In a stride towards bolstering India's electric vehicle (EV) landscape, JSW Group has announced an investment of 400 billion rupees ($4.81 billion) in EV manufacturing projects in the coastal state of Odisha. <o:p></o:p>

This is based on a Reuters report.<o:p></o:p>

The conglomerate's ambitious move signals a determined challenge to both domestic and international players in the burgeoning Indian EV market, which accounted for approximately 2 per cent of total car sales last year. Leading the charge was Tata Motors, although the government is fervently eyeing a formidable 30 per cent share by 2023.<o:p></o:p>

JSW Group's colossal investment will unfold in three phases, according to a statement released on Monday. In the initial two phases, a whopping 250 billion rupees will be injected into the establishment of an EV battery manufacturing plant and an EV components plant. The third phase will witness an additional infusion of 150 billion rupees to set up a cutting-edge EV components manufacturing complex. <o:p></o:p>

The conglomerate's strategic partnership with China's SAIC Motor, formed in November, intensifies its commitment to green mobility and the development of a robust electric vehicle ecosystem in India. This collaboration reflects the broader trend of international cooperation to accelerate advancements in EV technology and infrastructure.<o:p></o:p>

Despite these ambitious strides, India is still at a crossroads regarding the potential reduction of import taxes on EVs. A top government official informed Reuters that a decision is pending under a proposed policy for carmakers committing to local manufacturing. <o:p></o:p>

The outcome could potentially pave the way for the entry of global giant Tesla into the Indian market, disrupting the status quo. However, stakeholders like Tata, Mahindra &amp; Mahindra, and South Korea's Hyundai Motor have urged New Delhi to maintain the current policy, discouraging any reduction in taxes on hybrids.<o:p></o:p>

JSW Group's monumental investment marks a significant chapter in India's transition towards sustainable and eco-friendly transportation.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

In a stride towards bolstering India's electric vehicle (EV) landscape, JSW Group has announced an investment of 400 billion rupees ($4.81 billion) in EV manufacturing projects in the coastal state of Odisha.

In a stride towards bolstering India's electric vehicle (EV) landscape, JSW Group has announced an investment of 400 billion rupees ($4.81 billion) in EV manufacturing projects in the coastal state of Odisha. This is based on a Reuters report. The conglomerate's ambitious move signals a determined challenge to both domestic and international players in the burgeoning Indian EV market, which accounted for approximately 2 per cent of total car sales last year. Leading the charge was Tata Motors, although the government is fervently eyeing a formidable 30 per cent share by 2023. JSW Group's colossal investment will unfold in three phases, according to a statement released on Monday. In the initial two phases, a whopping 250 billion rupees will be injected into the establishment of an EV battery manufacturing plant and an EV components plant. The third phase will witness an additional infusion of 150 billion rupees to set up a cutting-edge EV components manufacturing complex. The conglomerate's strategic partnership with China's SAIC Motor, formed in November, intensifies its commitment to green mobility and the development of a robust electric vehicle ecosystem in India. This collaboration reflects the broader trend of international cooperation to accelerate advancements in EV technology and infrastructure. Despite these ambitious strides, India is still at a crossroads regarding the potential reduction of import taxes on EVs. A top government official informed Reuters that a decision is pending under a proposed policy for carmakers committing to local manufacturing. The outcome could potentially pave the way for the entry of global giant Tesla into the Indian market, disrupting the status quo. However, stakeholders like Tata, Mahindra & Mahindra, and South Korea's Hyundai Motor have urged New Delhi to maintain the current policy, discouraging any reduction in taxes on hybrids. JSW Group's monumental investment marks a significant chapter in India's transition towards sustainable and eco-friendly transportation. (With inputs from Reuters)

JSW Group unleashes $5 bn investment surge into Eastern India's EV revolution

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LG Energy Solution and JSW Energy explore major battery manufacturing venture

LG Energy Solution and JSW Energy explore major battery manufacturing venture

JSW Group unleashes $5 bn investment surge into Eastern India's EV revolution