2 hrs ago
JSW Enters India’s Electric Truck and Bus Market
JSW is starting a business called Amp Star to make electric trucks and buses.
At first, it will supply vehicles to companies within the JSW Group.
It also wants to sell vehicles to other businesses.
JSW says its group needs about 10,000 trucks.
The company believes electric trucks can reduce transportation costs.
It says India does not currently have enough electric trucks available.
JSW has invested Rs 2,500 crore in a factory that can make 15,000 buses or trucks.
Customers may be able to charge the vehicles quickly or swap their batteries.
Amp Star, part of JSW Greentech, will initially serve JSW Group’s internal demand for electric trucks and buses.
JSW Group requires about 10,000 trucks and plans to pursue additional business-to-business orders.
JSW has invested Rs 2,500 crore in a Chhatrapati Sambhaji Nagar facility with capacity for 15,000 commercial vehicles.
The company says India lacks sufficient electric-truck capacity and that industry players are seeking more electric vehicles.
Amp Star plans to offer battery swapping and fast charging, depending on customer requirements.
- Who
- Amp Star, part of JSW Greentech and the JSW Group, is entering the electric commercial-vehicle market.
- What
- The company plans to make electric trucks and buses for internal JSW demand and business-to-business customers.
- Where
- Production capacity is being built at a facility in Chhatrapati Sambhaji Nagar, India.
- When
- The article does not specify a launch date.
- Why
- JSW sees strong internal demand, rising logistics costs, a shortage of electric trucks in India, and an opportunity to reduce diesel use.
Key facts
- Company
- Amp Star, part of JSW Greentech
- Initial demand
- JSW Group requires about 10,000 trucks
- Investment
- Rs 2,500 crore invested in commercial-vehicle capacity
- Manufacturing capacity
- 15,000 units, fungible between buses and trucks
- Facility
- Chhatrapati Sambhaji Nagar
- Potential revenue
- Up to Rs 12,000 crore at full capacity, according to Jindal
- Charging options
- Battery swapping and fast charging
Quotes
Jindal
JSW Group executive quoted in the article
“JSW Group requires 10,000 trucks. We need to ramp up our production. There is huge inherent demand within the JSW Group and even bigger demand within the O.P. Jindal Group.”
businesstoday.in
“The average selling price would be Rs 80 lakh. At full capacity, this factory can potentially do a top line of Rs 12,000 crore.”
businesstoday.in
Sources
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