According to some media reports, JSW Energy has decided to foray into electric car manufacturing. The company aims to roll out its first such vehicle by 2020 and has earmarked Rs 3,500-4,000 crore as capital expenditure to be spread over three years.
The reports say that the group will also manufacture electrical batteries and energy storage systems along with electric vehicles and setting up charging infrastructure. JSW Energy at present exploring technology partner in the electric vehicle space, including a supplier for the electric power train. The company had so far kept itself confined to power, steel, and mining industry only and this is the first time it is entering into consumer business.
The government of India is working on a road map to ensure all-electric car fleet in the country by 2030. At present, electric vehicle prices are high due to expensive batteries and infrastructure to support these is almost non-existent. But the country’s automobile industry is about to go through a large-scale reformation, therefore, the government’s plan to leapfrog into complete electrification is an opportunity for the industry to develop capabilities in this field.