Tesla-free India becomes EV battleground as JSW enters fray

MUMBAI -- As foreign and domestic players scramble to grab a piece of India's emerging EV market in the absence of Tesla and BYD, steel and energy conglomerate JSW Group plans to invest 400 billion rupees ($4.8 billion) to build a vehicle and battery factory.

JSW is aiming for annual production of 100,000 commercial vehicles and 300,000 passenger cars, group Chairman Sajjan Jindal told Nikkei. The factory is to be built in the eastern state of Odisha.