NEW DELHI: Billionaire Sajjan Jindal's steel-to-power JSW Group plans to diversify into electric car manufacturing, two sources told Reuters, as Prime Minister Narendra Modi's government boosts support for non-polluting vehicles.
Electric vehicles that use expensive batteries have failed to take off in cost-conscious and power-deficient India, despite enjoying incentives like low taxes from the government that has set a goal of raising the number of such vehicles to up to seven million units by 2020, from just around 20,000 now.