Sajjan Jindal’s JSW Energy Ltd is looking to buy the Pune plant of US automaker General Motors for Rs 3,500 crore, reported Mint.
The executives of both the companies met in the US earlier this month to discuss the plan, the report said citing two people with knowledge of the matter.
JSW intends to foray into automobile manufacturing by producing an electric car, code-named JSW car, at GM’s Pune car plant and sell it in the price range of Rs 12-15 lakh, the report said.
The deal, as per the report, could also mean the exit of General Motors completely from the country.
A spokesperson for JSW told the newspaper, “We do not comment on speculation.” General Motors also declined to comment.
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