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    Davos 2019: JSW to invest in electric vehicle, says product should be on road in 3 years

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    Davos 2019: JSW to invest in electric vehicle, says product should be on road in 3 years

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    Sajjan Jindal, chairman, JSW Group, on Tuesday said the energy of the group will invest in electric vehicle (EV) and the product should be on road in three years. However, Jindal said there is still time for EVs to come into India because the country does not have the infrastructure and the technology is still developing.

    Sajjan Jindal, chairman, JSW Group, on Tuesday said the energy of the group will invest in electric vehicle (EV) and the product should be on road in three years.
    However, Jindal said there is still time for EVs to come into India because the country does not have the infrastructure and the technology is still developing.
    We believe that in two-three years the batteries will become very cheap and the range will increase a lot,” he Jindal told CNBC-TV18 on the sidelines of Davos World Economic Summit, Davos.
    "Chinese EV is a very good model for India. So we looked at all those cars and most of every Chinese company wanted to tie-up us but we are not looking at them because to sell a Chinese product is going to be a difficult thing,” Jindal said.
    The company is looking at German concept and technology would come from Germany or Austria, he added.
    On steel business, Jindal said, JSW Steel will expand to 40 million tonne by 2025.
    "We have some inorganic growth through the Insolvency and Bankruptcy Code (IBC) process where we are participating in acquiring some assets," he said.
    When asked about the insolvency process, Jindal said that he doesn't see any attractive steel asset to buy at this point.
    JSW Steel has big plans to grow organically, therefore, the company is not looking at other than acquiring Bhushan Power and Steel and Essar Steel, Jindal added.
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