JSW Partners with Chery Automobile for EV Tech, Plans India Launch by 2026
JSW Group is entering India's fast-growing electric vehicle (EV) sector through a strategic partnership with China's Chery Automobile. Under the agreement, Chery will provide key EV components and technology, but will not hold any equity due to India’s restrictions on Chinese investments. Instead, Chery will receive a one-time technology transfer fee and ongoing royalties.
This collaboration marks the first major passenger vehicle technology transfer from a Chinese automaker to an Indian company since the 2020 Galwan Valley conflict. JSW plans to domestically develop core technologies with support from KPIT Technologies and LTIMindtree, while manufacturing and marketing EVs under its own brand, independent of its existing JV with SAIC Motor (MG Motor).
JSW aims to launch its commercial electric trucks and buses by 2026 and a full EV lineup by 2027, supported by upcoming manufacturing units in Maharashtra. Meanwhile, Chery is leveraging the partnership to bolster its global expansion, including plans for a $1.5 billion IPO in Hong Kong and a potential $1 billion factory in Turkey. The deal reflects increasing Indo-global EV collaboration amidst growing domestic demand and policy support.
This collaboration marks the first major passenger vehicle technology transfer from a Chinese automaker to an Indian company since the 2020 Galwan Valley conflict. JSW plans to domestically develop core technologies with support from KPIT Technologies and LTIMindtree, while manufacturing and marketing EVs under its own brand, independent of its existing JV with SAIC Motor (MG Motor).
JSW aims to launch its commercial electric trucks and buses by 2026 and a full EV lineup by 2027, supported by upcoming manufacturing units in Maharashtra. Meanwhile, Chery is leveraging the partnership to bolster its global expansion, including plans for a $1.5 billion IPO in Hong Kong and a potential $1 billion factory in Turkey. The deal reflects increasing Indo-global EV collaboration amidst growing domestic demand and policy support.
