Power generation company, JSW Energy ends plans to make electric vehicles
By Jim Gibbins - 1st May 2019
India – Energy provider, JSW Energy Ltd1 of Maharashtra, which a year and a half ago (August 2017) announced it has set up JSW Electric Vehicles Pvt Ltd2 to diversify into making electric vehicles, has since decided not to continue with this diversification project. This decision is based on a lack of clarity in government policy on electric vehicles, stated JSW, rather than other alternate energy systems.
The JSW Energy group had signed MoUs with the state governments of Maharashtra and Gujarat earmarking investment of around USD588.24m for manufacturing electric vehicles, energy storage systems and associate business. In addition, the company had included former Hyundai Motor India’s director of marketing and sales, Rakesh Srivastava to draw up a blueprint for the company’s move into the green mobility sector.
