STORY CONTINUES BELOW THESE SALTWIRE VIDEOSNEW DELHI - India's steel-to-energy JSW Group is in early talks with Chinese automaker Leapmotor to license technology to build electric vehicles in India, according to people familiar with the discussions.
JSW is likely to use a single platform on which it can build at least three mid-sized sport-utility vehicles , one of the sources said, adding that Leapmotor will also engineer the cars for the Indian company.The group has also been in talks to buy a stake in MG Motor India, owned by China's SAIC Motor Corp, for its EV push in the country but those discussions have slowed, the person added.
"JSW wants to sell cars under its own brand for which they need the technology more than an investment or joint venture in an existing carmaker," said one of the people, adding that it had been in talks with a few other Chinese automakers as well. Indian media reported this week that JSW is in talks with Chinese companies for technology and is also in discussions to acquire Ford Motor Co's southern India plant where it stopped production last year after exiting the market.Tesla is also eyeing the market and is in talks with the Indian government to set up a factory there to build affordable EVs.