According to an article published by the Economic Times on November 7, India's largest steel manufacturer, JSW Group, is in deep discussions with Japanese and South Korean companies to establish a joint venture factory in India to produce battery cells, ensuring its supply chain for new energy vehicle manufacturing and reducing reliance on China. According to sources, the proposed joint venture aims to serve multiple verticals of JSW, including new energy vehicles, grid-level energy storage, and renewable energy, ensuring the group's technical ownership and supply security for electric vehicle and energy storage businesses. In addition, this cooperation will be carried out through equity alliances rather than technology assistance, and the final affiliation of the new entity will be based on strategic fit for each business. Currently, developing the electric vehicle business is at the core of JSW Group's future development strategy. JSW Motors, a wholly-owned subsidiary of JSW, plans to invest $3 billion (3 billion dollars) over the next five years to develop new energy vehicles. Therefore, analysts point out that due to China's recent restrictions on the export of key battery cell and negative electrode technologies, JSW will inevitably seek diversified supply chain solutions, and negotiations are expected to be completed by March 2026.
Original: www.toutiao.com/article/1848279449014475/
Statement: This article represents the views of the author.