Two Indian conglomerates to plow US$1 billion in EV, battery tech

Businesstimes News
2026.05.07 09:35
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Two Indian conglomerates, Tata Group and JSW Group, are set to invest nearly US$1 billion in electric vehicle and battery technology to reduce reliance on Chinese technology. Tata's Agratas unit will allocate over US$400 million for a new R&D facility in Bengaluru, focusing on lithium iron phosphate technologies. Meanwhile, JSW Motors plans to invest at least US$500 million in a research hub in Maharashtra to localize vehicle development and enhance software capabilities. These investments reflect a strategic shift in India's auto industry amid increasing challenges in technology transfer from China.