JSW Group ready to collaborate with global OEMs to strengthen position in India

Sajjan Jindal, Chairman, Jindal Group

JSW, a global conglomerate, is planning to strengthen its name in the third-largest automotive market through joint ventures with OEMs (Original Equipment Manufacturers) in India. Sajjan Jindal’s JSW Group is ready to enter in alliance with two major OEMs named, Germany based Volkswagen Group and SAIC of China, a state owned company, a business daily has reported.

The USD 23 billion conglomerate has already inked a joint venture with SAIC, the parent company of MG Motor India with 35% stake in it. The company is also in talks with Volkswagen to ink another alliance. This can bring a three-way deal of JSW, Volkswagen, and SAIC or a two separate collaboration where JSW being the common company, said the people associated with the company on the condition of anonymity.

The USD 23 billion conglomerate has already inked a joint venture with SAIC, the parent company of MG Motor India with 35% stake in it. The company is also in talks with Volkswagen to ink another alliance. This can bring a three-way deal of JSW, Volkswagen, and SAIC or a two separate collaboration where JSW being the common company, said the people associated with the company on the condition of anonymity.

Volkswagen, a leading global automotive player, has played small in Indian markets and is now ready to collaborate with OEMs to strengthen its fundamentals in India. Skoda, Volkswagen, and Audi have been holding a niche share in the auto market. 

Skoda Auto Volkswagen group has stated in their statement that Skoda Auto (part of Volkswagen group) is ready for exploring new business opportunities in India. Though they further added that they won’t be commenting on market speculations about their JV with any OEM. 

JSW earlier has signed INR 40,000-cr MoU with the government of Odisha for providing integrated EV battery and vehicle manufacturing plants in Cuttack and Paradip.