Sajjan Jindal is betting JSW’s steel fortune on cars
The post Sajjan Jindal is betting JSW’s steel fortune on cars appeared first on The Ken .
Sajjan Jindal, the 35% shareholder in MG India, is making a bold bet on JSW's automotive fortune. Even though the JSW-MG venture was initially dismissed by Skoda Volkswagen due to JSW's lack of automotive experience, Jindal has shifted gears and is now building a comprehensive auto empire. The group has earmarked over Rs 50,000 crore for auto-related ventures, aside from an unfulfilled Rs 40,000 crore project in Odisha.
JSW Motors, the arm focused on car manufacturing, is set to launch rebadged versions of Chery Automobile's SUV Jetour T2, as well as Jaecoo J5 and iCar V23. These plans have faced some delays, with the executive citing the competitive EV and PHEV market as the reason for the postponement. Despite JSW's primary revenue source being steel, the automotive investment is becoming increasingly vital to the group's future.
JSW has committed Rs 28,000 crore to JSW Motors over the next five years, and secured an additional Rs 8,000 crore credit line from State Bank of India in May 2026.
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