Indian steel and Watch Powerenergy conglomerate JSW Group is engaged in preliminary discussions with Chinese automaker Leapmotor about potentially licensing the latter’s technology to produce electric vehicles in India, according to a September 1 report by Reuters. Sources familiar with the discussions said that under the proposed agreement, JSW would utilize Leapmotor’s vehicle platform to manufacture EVs under its brand in India. JSW will employ a single platform capable of constructing at least three midsize SUVs and Leapmotor will also engineer the cars for JSW as part of the deal, one of the sources added. The exact commencement date for production remains undisclosed. “JSW wants to sell cars under its brand for which they need the technology more than an investment or joint venture in an existing carmaker,” a source told Reuters, adding that the Indian firm had been in talks with a few other Chinese automakers as well. For Leapmotor, a potential partnership with JSW presents an opportunity to generate revenue from the Indian market, which is a significant feat given the tightened foreign investment regulations in India, as per the report. [Reuters]
