The multi-faceted JSW Group, spanning from steel to energy, is engaged in early-stage negotiations with Chinese automaker Leapmotor (9863.HK) to obtain technology licensing for the development of electric vehicles (EVs) in India, sources familiar with the discussions have revealed.
In accordance with the contemplated technology licensing accord, JSW intends to leverage Leapmotor’s platform, which forms the foundational framework of an automobile, to facilitate the indigenous manufacturing of EVs in India under its own brand, insiders indicated. This collaboration marks JSW’s second endeavor to enter the dynamic EV sector.
JSW Group is poised to adopt a unified platform suitable for producing a minimum of three mid-sized sport-utility vehicles (SUVs), stated one of the sources. Furthermore, Leapmotor will undertake the engineering responsibilities for these cars intended for the Indian market.
The sources have refrained from specifying the commencement timeline for production.
Simultaneously, JSW has been engaged in discussions concerning the acquisition of a stake in MG Motor India, a subsidiary of China’s SAIC Motor Corp (600104.SS), aligning with its EV-focused endeavors in the Indian market. However, progress on these negotiations has experienced a slowdown, the source added.
