Billionaire Sajjan Jindal's car venture JSW Motors is in talks with BYD and several other Chinese companies for platform and component access ahead of launching its own cars next year, the company's CEO Ranjan Nayak told Times of India during an interview.
The other Chinese companies which are reportedly engaged in negotiations with JSW Motors include Geely, Cherry, Xiaomi, Nio Auto and Li Auto. JSW Motors plans to launch its cars before June next year from a new factory coming up in Maharashtra, Nayak said. It plans to launch 25 new models by 2030, while it continues to engage in talks with some European makers like Volkswagen and Renault as well, he further told the publication.
'BYD can make cars in JSW Motors' upcoming Maharashtra factory'
The new factory coming up in Maharashtra will have a production capacity of 5 lakh units per year, Nayak said. BYD is currently importing is cars to India after paying heavy customs duty. JSW Motors is open to making cars for the EV-giant at its Maharashtra factory, Nayak further told TOI, adding that talks with BYD had been initiated some time back, and are being continued.
India could become an export hub for global markets, and BYD can produce here, localize here and export to US and Europe, Nayak suggested. The Indian company has lined up investments worth Rs 26,000 crore over the next five years to foray into the highly competitive passenger vehicle segment.
'JSW Motors to target SUVs first'
Speaking about what kind of cars JSW Motors is eyeing, Nayak said that it is focusing on electrics, plug-in hybrids, and range extenders. SUV is the preferred body type the company will target, although there are plans for a premium sedan by nearly 2027, he added.
"The average price of the early cars will be Rs 22-25 lakh, and after that we will enter the mass segment targeted at fleets and taxis which could be a hatchback. These mass products will be priced at Rs 8-9 lakh," he told TOI.
'Brutal localisation is the aim'
Speaking about the company's joint venture named JSW MG Motor with another Chinese giant SAIC, Nayak said that the Indian company doesn't want any equity partnership in it. It only wants access to components, core tech and car platforms so that it can get the tech and localise here in India, he added.
'Brutal localisation' is the aim of JSW Motors, and it is ready to collaborate with anyone who is aligned with this goal, Nayak told the publication. "The partner will share the tech and will be paid a fee for that – upfront as well as royalty. We don’t want to be locked up with one partner," TOI quoted Nayak as saying.
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