Davos 2026: JSW-made cars to hit Indian roads by Diwali, says MD Parth Jindal

Davos 2026: JSW-made cars to hit Indian roads by Diwali, says MD Parth Jindal

JSW Group will launch its first passenger vehicle under the JSW brand by Diwali this year, marking a decisive entry into India’s fast-growing electric and new energy vehicle market, Parth Jindal, Managing Director at JSW Paints and JSW Cement and Director at MG Motor India, told Moneycontrol.

Speaking on the sidelines of the World Economic Forum’s annual meeting in Davos, Jindal said the upcoming launch fulfils a long-standing ambition of the group and signals its intent to build a full-scale automotive business focused on electric vehicles, plug-in hybrids and range extenders.

“All eyes are on the JSW car,” Jindal said. “It has been my father’s dream for a very long time to see a JSW-badged vehicle on Indian roads, and come Diwali we will start seeing those JSW cars on the road.”

Biggest consumer foray for JSW

Jindal said the car venture represents the largest consumer-facing bet the JSW Group has ever undertaken, with a manufacturing facility already under construction in Sambhajinagar.

“The factory is under construction in Sambhajinagar — one of the biggest investments we have made,” he said. “This will be the biggest consumer foray that the JSW group has ever done.”

He added that a successful foray into automobiles could significantly lift the group’s brand profile beyond its traditional strongholds in steel, cement and power.

“If we are successful in cars, the brand will become much bigger and more people will know about JSW,” Jindal said.

New energy focus, no petrol or diesel

Jindal said JSW Motors will be positioned as a pure new energy vehicle company and will not introduce conventional internal combustion engine models.

“We are very clear — JSW Motors will be a new energy vehicle company,” he said. “We are not going to bring conventional engine cars. It will be plug-in hybrids, range extenders or electric vehicles.”

The strategy builds on the group’s partnership with MG Motor India, where Jindal also serves as a director following JSW’s acquisition of a stake in the automaker last year.

MG partnership shows EV demand

Jindal said JSW’s experience with MG Motor has reinforced confidence in India’s electric vehicle potential, particularly when products are competitively priced.

“The Windsor has been the fastest-selling EV in India for the last 16 months in a row,” he said. “It shows that if you bring the right product at the right price, EV adoption does have a chance in India.”

He added that EV demand in India has more than doubled between calendar years 2024 and 2025, pointing to a structural shift in consumer preferences.

China tech, localisation strategy

A key pillar of JSW’s automotive strategy will be sourcing and localising low-cost new energy vehicle technology from China, which Jindal described as the global leader in affordable EV platforms.

“We genuinely believe that the country which has the right low-cost new energy vehicle technology at scale is China, and that we need to bring that technology and localise it in India,” he said.

Jindal said automakers dependent on Japanese or Korean platforms lack access to EV technology at comparable costs, creating an opportunity for JSW to compete aggressively in the mass market.

Macro benefits for India

Beyond commercial considerations, Jindal said the transition to electric and hybrid vehicles could help reduce India’s dependence on imported oil and improve its external balances.

“India imports all its oil, whereas we have enough power domestically and more capacity being added,” he said. “The faster we move away from petrol and diesel cars, the better it is for our current account deficit and for the country.”

He described the opportunity as a “multi-billion-dollar” bet for the group if localisation and scale are executed successfully.