JSW Greentech gears up to take on top players in electric-CV market

Mumbai: JSW Group has set an ambitious goal of selling 100,000 electric trucks and buses annually by 2030, and rank among the top three commercial vehicle makers in the country.

Chairman Sajjan Jindal said JSW Greentech, the group’s new electric commercial vehicle arm, will initially focus on the heavy vehicle segment where electric adoption is starting to pick up.

Electric truck sales in the N3 category (12 to 55 tonne) rose from about 850 units in FY26 to around 1,300 in the first five months of FY27, helped by state EV policies in Maharashtra and Haryana, sector-specific deployments in cement and steel, and rising diesel and CNG prices.


Jindal was speaking to reporters Monday ahead of the launch of its AMPSTAR brand of e-CVs on Tuesday.

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JSW will be aiming to disrupt the domestic CV market that continues to be dominated by a handful of manufacturers led by Tata Motors. Tata together with Mahindra & Mahindra and Ashok Leyland accounted for more than 78% of CV retail sales in August, with market shares of 33.4%, 26.4% and 18.3%, respectively, according to FADA data.

Electric CVs accounted for 5.2% of August retail sales, up from 2.1% a year earlier, pointing to a growing market for new entrants.

Asked about the scale of the 100,000-unit ambition, Jindal said the group wants to become one of the largest CV makers domestically.

“Once we as JSW Group get into that area, then we would also want to be one of the largest players, large in the top 2 or 3 players,” he said. “It is a very crowded market. It is not an easy market, that also we know.”

He said the current manufacturing plant is an entry strategy and that it can expand capacity rapidly. “Given the group strength and this new technology that we are bringing in, we believe that we can really ramp up the capacity very quickly.”

The company has invested ₹2,500 crore in a 90-acre EV manufacturing facility at Chhatrapati Sambhajinagar, Maharashtra, with annual capacity for 15,000 buses and trucks. AMPSTAR will initially offer a 55-tonne electric tractor-trailer and eventually expand into tippers and fixed-body dumpers. The bus range will span 7-metre to 18-metre vehicles.

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JSW Greentech CEO Sumit Mittal said the company has developed its core technology in-house to enable progressive localisation. “The first thing that we’ve done is like we’ve got all this technology in-house,” he said. Suppliers will manufacture parts to JSW’s designs, while software and electronic architecture are being retained internally.

The company will initially follow a B2B-led strategy, with a limited dealer network to service customers. “Initially, we are going with 55 tonners, which are the top of the lead, most complex,” Mittal said, adding the network would expand as JSW ventures into smaller CVs.

Jindal is also counting on demand from large industrial groups for closed-loop operations.