JSW Group near securing 51% stake in auto joint venture
JSW Group is close to grabbing a majority stake (51%) in the proposed joint venture, according to reports.
A non-binding memorandum of understanding (MoU) could be signed within two months.
If it goes through, JSW will have the upper hand in shaping what comes next for these big auto brands in India.
JSW Group to localize EV production
The main goal? Pumping money into electric vehicle (EV) development and making more cars locally, right in line with JSW's Make in India push.
The plan includes building EVs on a platform tailored for Indian needs and possibly rolling out a three-row SUV, with localisation work at its Sambhaji Nagar plant also being evaluated.
The partnership would also bring the group's brands, Skoda, VW, Audi, Porsche, and Lamborghini, under one roof for sales and manufacturing.
For JSW, it's a chance to expand its auto game and build an export hub without relying on China.