JSW holds talks with 4 Chinese firms, others for its lithium-ion battery project: Report

JSW Group

The Sajjan Jindal-led JSW Group has held talks with at least four Chinese battery technology companies to source tech and expertise for its lithium-ion battery project for EVs in Odisha, Mint reported citing people familiar with the matter.

The business conglomerate has held talks with Chinese firms Gotion, Cospowers, Svolt and Soundon to power its factory in Cuttack, the report said, adding that the group has also been in consultation with Japanese and South Korean companies.

JSW Group will at first target 10 GWh of capacity by 2027, initially focusing on energy storage systems, and then move to cells later, the report further said, while noting that no concrete deal with the foreign firms have been concluded yet.

In the second phase, the conglomerate will target 20 GWh capacity between 2028 and 2030, followed by another 20 GWh capacity expansion by 2032 in the third phase, the report added. Panasonic, Asahi Kasei and Sumitomo Metal Mining were some of the Japanese companies with whom JSW held talks in July, the report further said.

Moneycontrol couldn't independently verify the report.

Earlier in August, Mint reported that JSW Group is deepening its auto business foray with expansion into manufacturing of electric and hybrid vehicle components. The components business unit JSW AutoComp was established after renaming its EV charging infra subsidiary JSW NxGen Charge Ltd, which was set up in 2024, the paper said.

Earlier, it was reported that the Sajjan Jindal-led group is considering increasing its stake in EV joint venture with MG Motor and plans to become the largest shareholder.