JSW Energy Limited, part of
the JSW Group and a growing energy company is planning to launch its own
electric vehicle by 2020. The company is keen to enter into electric vehicles,
energy storage systems and associated business, directly or through one or more
subsidiaries. The expected capex to be incurred over the next three years would
be in the range of Rs 3,500 to Rs 4,000 crore.
JSW Energy is planning to
launch its own electric vehicle by 2020 with a vision of “Make in India and
Make for India”. It will bring world class products suitable to Indian
conditions satisfying Indian customer needs. “Our strategy is aligned with
Government of India’s vision to make all cars electric by 2032, which will ease
pressure on the economy of our country by reducing fuel import bill,” the
Moreover, the energy space is
evolving continuously with energy storage systems and charging infrastructure
representing the next stage of evolution. JSW Energy aims to be ahead of the
curve, leapfrog the current trends to capitalise on these new opportunities and
create a new growth dynamic for the company. As part of this, JSW Energy plans
to facilitate creation of charging infrastructure and necessary ecosystem for
faster penetration of electric vehicles in India.
The company claims that India
has huge opportunity for energy storage systems not only for electric vehicles
but for other static applications such as telecom, micro grids, solar storage
system for household and power banks. JSW Energy plans to enter into energy
storage systems business for both in static and mobility applications as it
will be forward integration of its existing business of power generation to
JSW Group has diversified
interests in carbon steel, power, mining, industrial gases, port facilities,
aluminium, cement and information technology. JSW Energy is working on power
solutions in the states of Karnataka, Maharashtra, Rajasthan, Himachal Pradesh
and Chhattisgarh. The company has an operational capacity of 4,531 MW. The company
is an early entrant in the power trading and power transmission business and
plans to enter into power distribution business, generation through
non-conventional energy sources and tie-ups with well-known equipment
manufacturers and suppliers. It is working towards building a full service
integrated energy business.
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