Sajjan Jindal-led JSW Group, which is already a strong player across steel, cement and power, is taking bigger steps to scale up its automotive business, a sector it had entered two years ago through a joint venture with China’s SAIC Motor.
JSW is now reportedly looking to introduce a new brand, which will focus on new-energy vehicles by 2027, and the homegrown conglomerate is in talks with another Chinese company, Chery Automobile Co. According to Bloomberg, Chery will supply technology and components for JSW’s new brand.
Should that happen, this will be perhaps the first major instance of a Chinese company transferring passenger vehicle technology to an Indian firm, since at least 2020, when the armies of the two countries clashed. JSW will reportedly pay Chery a one-off royalty fee for the tech as well as recurring royalties.
However, Chery has said it will only supply components or parts. JSW will produce the vehicles under a new brand in India. JSW told the news wire that core technology will be built in-house with the help of companies. A detailed response sought by this reporter from JSW remained unanswered.
JSW’s expansion plans come at a time when EV sales are rapidly growing in India. However, sales of passenger electric vehicles, while growing, have still been low. In June 2025, for instance, 2.98 lakh passenger vehicles were retailed. EV sales contributed to just 4.43 per cent of passenger vehicle sales in June, up from 2.52 per cent in June 2024.
JSW already has a joint venture with China’s state-owned SAIC Motor – JSW MG Motor India Private Limited. Currently, Indian investors, including JSW, hold a 51 per cent stake, of which JSW has 35 per cent. SAIC holds a 49 per cent stake. JSW has plans to become the largest shareholder in the company over time.
Currently, JSW MG Motor sells the Hector, Astor and Glostor ICE (internal combustion engine) SUVs and the ZS, Comet and Windsor EVs. The company sold 57,366 units in the Indian market in the 2024-2025 financial year and had a market share of 1.38 per cent, up from 1.26 per cent in the previous financial year.
In June, it sold 4,954 units, giving it a share of 1.66 per cent, up from 1.32 per cent in June 2024. The market share gains have been largely led by the Windsor EV, which has raced past the Tata Punch to become the largest-selling EV in the country.
The company recently opened the first MG Select outlet, through which it will sell premium vehicles like the Cyberster sports car and M9 MPV.
SAIC is expected to continue providing technology support for this joint venture. However, new partnerships like the one likely with Chery will be crucial for JSW’s ambitions to soar higher in the automotive space, especially with its own new energy vehicle brand that is likely to rollout by 2027.
Parth Jindal, director of JSW MG Motor India, has said earlier that it is their goal to become the leading auto OEM (original equipment manufacturer) in the new energy vehicle segment. Recently, after opening the JSW Select showroom near Mumbai, Jindal said that JSW MG would only bring vehicles that are either electric or plug-in hybrids.