JSW Motors, the fully owned automobile venture of steel magnate Sajjan Jindal, is in discussions with BYD, the world’s largest electric vehicle maker, along with other Chinese companies such as Geely, Cherry, Xiaomi, Nio Auto and Li Auto, for access to platforms and components. The Indian company has committed investments of nearly Rs 26,000 crore over the next five years as it prepares to enter the competitive passenger vehicle market.
The company plans to roll out its first car before June next year from its upcoming factory in Maharashtra, which will have a production capacity of five lakh units annually. By 2030, it aims to introduce 25 new models. Talks are also underway with European manufacturers including Volkswagen and Renault to secure technology and component support, according to CEO Ranjan Nayak.
The discussions with BYD began some time ago and are still ongoing. Currently, BYD imports cars into India at high customs duty. Nayak said JSW is open to manufacturing vehicles for BYD at its new plant. “I met the BYD teams even last month. I had talks with them… they can also leverage the Indian ecosystem in line with the shift in geopolitical dynamics. India could become an export hub for global markets. BYD can make here, localise here, and export to the US and Europe.”
Nayak stressed that JSW Motors does not intend to pursue equity partnerships in the new venture. “What we are looking at through the talks with various companies is access to components, access to core tech, and car platforms. We want to get the technology here and localise. Brutal localisation is our aim. Whoever is aligned with this goal is someone we are ready to collaborate with. The partner will share the tech and will be paid a fee for that — upfront as well as royalty. We don’t want to be locked up with one partner.”
The company’s product line-up for India will focus on electric vehicles, plug-in hybrids and range extenders. SUVs will be the priority, although a premium sedan is planned around 2027. The first models are expected to be priced between Rs 22 lakh and Rs 25 lakh, after which the company plans to enter the mass market with hatchbacks priced at Rs 8 lakh to Rs 9 lakh, aimed at fleet and taxi operators.
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