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China's Chery to supply EV tech for JSW's new auto brand, to debut by 2027
JSW Group will pay Chery a one-time technology transfer fee along with regular royalties. The agreement does not involve any equity participation, which aligns with India's curbs on Chinese investments in strategic sectors, the news report mentioned. This would be the first major transfer of passenger vehicle technology from a Chinese automaker to an Indian firm since the 2020 border dispute strained ties.
Chery confirmed that it will supply parts of models to JSW, which will produce and sell them under its own brand. JSW said that the core technology will be developed internally with the help of firms like KPIT Technologies and LTIMindtree, The Economic Times reported.
JSW to build commercial EVs
The upcoming JSW EV brand will be fully-owned by the company and operate independently of its current joint venture with China's SAIC Motor, which sells cars under the MG brand. JSW is also setting up manufacturing facilities in Maharashtra to roll out its new EV lineup from 2027, and commercial electric trucks and buses as early as 2026.
EV supply chain still relies on China
India's EV ecosystem continues to remain dependent on Chinese technologies, especially for components like lithium-ion cells and rare earth magnets. Indian companies like Tata AutoComp and Amara Raja have ongoing agreements with Chinese suppliers such as SVOLT and Gotion.
Chery Automobile, which has a strong global presence and exports to over 100 countries, is exploring a $1.5 billion IPO in Hong Kong. Its earnings from the JSW partnership may help fund global expansion, including a $1 billion factory in Turkey, the news report said.
Rare earth shortage not yet a concern
Earlier this month, at the launch of MG Motor's premium showroom in Thane, JSW MG Motor MD Anurag Mehrotra said the ongoing shortage of rare earth materials is not affecting current production but may pose future risks. 'We're watching the situation closely,' he said, adding that the industry is working with the government to address the issue.
Meanwhile, JSW MG Motor continues to expand its premium vehicle portfolio in India, displaying models like the MG Cyberster and M9 limousine at its new MG Select outlets.
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