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JSW Energy shelves plans to enter electric vehicle business

Updated : March 30, 2019 05:16 PM IST

One-and-half-years after it announced plans to roll out its first electric vehicle (EV) by 2020, Sajjan Jindal-led JSW Energy has scrapped its plan to enter the market.

Last year, Prashant Jain, joint managing director and chief executive officer, JSW Energy, declared company's plans of pumping Rs 6,500 crore into the EV business.

The company had even signed not one but two memorandum of understandings with Gujarat and Maharashtra to set-up manufacturing units that would roll out EVs in 2020.
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