Stock Advisory in Indore, JSW Group in talks with China’s Zhejiang Geely for electric vehicles

JSW Group is in talks with China’s Zhejiang Geely Holding Group Co. for a partnership to make electric vehicles (EVs).

The proposed equal joint venture with a planned investment of around $1 billion will look at manufacturing premium electric vehicles, batteries and also setting up charging infrastructure, said three people aware of the Indian conglomerate’s plans who spoke on condition of anonymity.

Billionaire Sajjan Jindal’s JSW Energy announced on 11 August that it would invest up to Rs4,000 crore to manufacture EVs and said it was in talks with several technology providers.

Spokespersons for Zhejiang Geely Holding Group and JSW Group did not respond to emails seeking comment.

The Hangzhou-headquartered Zhejiang Geely Holding Group owns Geely Automobile Holdings Ltd, Volvo Car Group, and the London Taxi Company. China overtook the US last year as the world’s biggest electric car market.

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