JSW Group plans to invest 400 billion rupees in electric vehicle (EV) manufacturing projects in India’s Odisha state. Government targets 30% EV market share by 2023. JSW Group will invest 250 billion rupees in an EV battery manufacturing plant and an EV components plant in the first two phases of its plan. Tata Motors dominates the 2% EV market in India. JSW Group and SAIC Motor formed a joint venture in India to focus on green mobility and developing the electric vehicle ecosystem.
Maruti Suzuki, Hyundai Motor, Tata Motors and Renault India achieved the highest-ever share of sales from rural markets in 2023, driven by improved consumer sentiments and increased liquidity among the rural population. However, rural demand for FMCG and consumer durables was impacted by inflationary pressures.
