JSW Greentech is entering India’s electric trucks market under the AMPSTAR brand, targeting sales of one lakh vehicles by 2030 as it seeks to build a presence in the commercial vehicle sector and expand non-diesel freight options.
The company’s upcoming plant will have the capacity to produce around 15,000 electric buses and trucks annually, according to a report by The Times of India. JSW Greentech expects to sell about 3,000 electric trucks this year, compared with roughly 800 electric trucks sold by the industry last year.
The planned entry comes as commercial transport operators and industrial companies assess alternatives to diesel-powered fleets. JSW Group itself operates around 17,000 trucks, and some of the initial demand for the new vehicles could come from within the group, the report said.
The electric vehicles will be sold under the AMPSTAR brand. The launch will add to JSW’s growing automotive interests, which include its joint venture with MG Motor, plans for JSW Motors and discussions around a possible investment in Skoda-Volkswagen’s India operations.
Sajjan Jindal acknowledged that the company would face challenges in entering the electric commercial vehicle market. “There will be challenges. Once we jump into the ocean, we will try to swim,” he said, while describing the company’s focus on building indigenous capabilities.
Battery technology remains one of the areas where the company continues to rely on imports from China, according to the report. Jindal said research and development would be a priority and that the company hoped to make progress on battery cells over the next few years.
“Several Indian groups are working on it. In the next five to seven years, there will be some reverse engineering,” Jindal said. He added that the immediate objective was to catch up with developments in China before pursuing a breakthrough in cell technology.
The production capacity and sales targets announced by JSW Greentech indicate an attempt to move electric commercial vehicles beyond limited pilot deployments and into larger industrial and freight fleets. The company’s stated 2030 target will depend on the commissioning of its plant, the performance of its vehicles and the pace at which fleet operators adopt electric trucks.
JSW Greentech’s next stated milestone is the operationalisation of its plant and the start of electric truck and bus production under the AMPSTAR brand.
