According to a source, negotiations are underway to create a joint venture for the production of electric vehicles (EVs) in India between the German automaker Volkswagen Group and the Indian conglomerate JSW Group. According to Moneycontrol, which cited persons with direct knowledge of the talks, the two sides started talking earlier this month and are thinking about soon going into an exclusivity period during which they would not be able to negotiate with other possible partners.
An deal was recently inked by the Odisha government and the billionaire Sajjan Jindal-led JSW Group to establish an integrated electric vehicle and battery manufacturing plant at Cuttack and Paradip, with an anticipated investment of Rs 40,000 crore.
According to a source, negotiations are underway to create a joint venture for the production of electric vehicles (EVs) in India between the German automaker Volkswagen Group and the Indian conglomerate JSW Group. According to Moneycontrol, which cited persons with direct knowledge of the talks, the two sides started talking earlier this month and are thinking about soon going into an exclusivity period during which they would not be able to negotiate with other possible partners.
An deal was recently inked by the Odisha government and the billionaire Sajjan Jindal-led JSW Group to establish an integrated electric vehicle and battery manufacturing plant at Cuttack and Paradip, with an anticipated investment of Rs 40,000 crore.
In other news, Mahindra & Mahindra Ltd. (M&M) and Volkswagen Group recently signed their first supply deal for Volkswagen’s MEB platform components, including the battery pack, which will be used in Mahindra’s INGLO electric platform. This happened after Mahindra and Volkswagen Group signed a partnership agreement and term sheet on August 15, 2022. However, the supply deal will last several years and will cover a total volume of around 50GWh over its lifetime.