JSW in talks with LG Energy Solution to make EV batteries in India
JSW wants to set up a factory to produce 20 GWh of battery capacity in phases by the end of this decade.
According to a media report, JSW is looking to set up an EV battery manufacturing unit in India. The company is said to be in talks with South Korea’s LG Energy Solutions (LGES) to jointly manufacture batteries locally.
It has been reported that JSW had discussions with LGES in South Korea earlier this month. The company proposed a partnership to manufacture battery cells for EVs and energy storage.
Reports suggest that JSW plans to build a local supply chain for EVs. Apart from LGES, the company is also said to be in talks with other battery manufacturers, including China’s CATL and Panasonic and Toshiba from Japan.
While JSW has been tight-lipped about its EV plans, some say, the company wants to set up a factory to produce 20 GWh of battery capacity in phases by the end of this decade.
JSW chairman Sajjan Jindal has also expressed his interest in manufacturing EVs in India. It is rumoured that JSW is currently in talks with China-based Leapmotor to license technology to build EVs under its own brand.
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