India's JSW Group is in talks with Japanese and South Korean manufacturers to establish a joint venture to manufacture batteries in the domestic market in order to secure supply chains for its new energy vehicles (NEV) and energy storage businesses, while reducing dependence on Chinese imports, the Economic Times reports. The negotiations are expected to be completed by March 2026.
The joint venture will support several JSW divisions, including electric vehicles, grid-scale energy storage systems, and renewable energy integration, and may operate under the auspices of an existing subsidiary or a new legal entity. The move is the result of China's increased export controls over critical battery and anode manufacturing technologies, prompting JSW to seek technology partners in Japan and Korea willing to establish local manufacturing bases. Unlike simple licensing agreements, the partnership is planned as an alliance with equal shares of capital to ensure deeper cooperation and technology transfer.
JSW, which has already partnered with JFE Steel and Toshiba, is expanding its electric vehicle ambitions through JSW MG Motor India — currently the second largest electric vehicle manufacturer in the country — and its own JSW Motors division, which plans to invest $3 billion in NEV and establish a manufacturing center in Maharashtra. The battery manufacturing joint venture is seen as a strategic framework to ensure technology ownership and long-term supply security for JSW's integrated electric vehicle ecosystem.
