JSW to enter auto parts biz with eye on EV ecosystem

Billionaire Sajjan Jindal is expanding the ambit of the JSW Group's automotive business to add components for electric and hybrid vehicles to its kitty. The group has already made significant investments in electric vehicles (EVs)—both passenger and commercial—and an EV battery business.

- Ayaan Kartik

The group's components business—JSW AutoComp—was created by renaming JSW NxGen Charge Ltd, an EV charging infrastructure company that was established in August last year.

The final regulatory filing to complete the conversion of the company from a charging industry player to auto components was done in June, according to filings made with the ministry of corporate affairs.

The move followed approval from shareholders of JSW NxGen Charge Ltd during an extraordinary general meeting in May. A resolution to both change the name of the company and its agenda to enter the auto component sector was approved by shareholders,the filings showed.