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Board changes at JSW Group ahead of electric cars, trucks launch next year

 BY RISHI

JSW Group has initiated a significant reshuffle in its board structure and reorganised its corporate entities as it prepares to enter the electric vehicle (EV) space — both passenger cars and commercial trucks — in the upcoming financial year. These strategic moves aim to align leadership, accelerate decision-making, and ensure that the group’s many verticals work in harmony toward its new automotive ambitions.

The following sections break down each major point behind these changes, explaining why JSW is doing this and what it reveals about its future direction.

1. Why board restructuring matters at this juncture

When a conglomerate as large and diversified as JSW pivots toward a new business line, such as electric vehicles, it is essential to have a governance and leadership structure that reflects the strategic priority. By shifting board responsibilities and embedding domain expertise, JSW ensures that the EV business will not be an afterthought but a core focus.

The board changes create accountability, bring relevant experience to governance, and reduce friction between legacy divisions and the new auto vertical.

2. Key board changes and personnel moves

Between August and September 2025, JSW made several high-impact changes in its auto and holding companies. 

For instance, the CEOs of the passenger vehicle (PV) and commercial vehicle (CV) units — Sumit Mittal and Ranjan Nayak, respectively — exited the board of JSW Green Mobility (the parent holding company) to focus exclusively on operations of their verticals. In their place, Rajiv Mehta, a veteran of Mahindra & Mahindra, joined the board. 

Other changes include:

• Appointment of Deepa Yezdegardi, currently VP (Banking) at JSW Steel, to the board of JSW Motors. 
• The restructuring of the component business JSW AutoComp, where control was shifted under the umbrella of JSW Green Mobility’s CV arm, JSW Greentech. 
• Renaming and repositioning: JSW AutoComp was formerly JSW NxGen Charge Ltd, originally an EV-charging infrastructure entity. 

3. Strategic rationale behind shifting control of the component business

By placing the components arm under the Green Mobility umbrella (specifically under the CV arm), JSW is signaling its intention to create integrated synergies across vehicle manufacturing, component supply, and battery / EV systems. 

This vertical integration is critical in the EV world, where controlling supply chains, reducing dependency on external suppliers, and ensuring quality consistency are major competitive advantages.

4. Capital infusion and financial backing

Structural changes alone are not enough — JSW is backing its ambitions with capital. JSW Projects, affiliated with the promoter trust, infused ₹173 crore into JSW Green Mobility in September, after previously investing ₹1,000 crore earlier in the year. 

These funds serve multiple purposes: supporting R&D, setting up manufacturing facilities, developing battery capacity, and absorbing initial losses in a capital-intensive sector.

5. Dual strategy: own brand + JV (MG) route

JSW’s automobile strategy is not a single path but a dual approach. On one hand, it continues to partner with SAIC for MG Motor India. On the other, it plans to develop its own EV / hybrid brand. 

By doing this, JSW hedges its bets: MG offers existing market access and brand recognition; the in-house brand gives full control over product, margins, and identity. Over time, the group may shift more weight into its own brand as it matures.

6. Battery ambitions and technology tie-ups

EV success is inseparable from battery capacity and technology. JSW reportedly aims to build 50 GWh of lithium-ion battery capacity in India, with a 10 GWh gigafactory expected to be operational by 2027. 

To that end, JSW is in talks with top Chinese battery firms (Gotion, Svolt, Soundon, Cospower) to access technology. 

Additionally, JSW has explored a technology agreement with China’s Chery Automobile to acquire passenger vehicle tech via licensing or technology transfer. 

Such tie-ups help shortcut developmental time and risk, while maintaining the possibility to localise / internalise critical IP over time.

7. Harnessing internal advantages: steel, energy, and infrastructure

One of JSW’s unique strengths is its strong base in steel manufacture, power, and related infrastructure. By entering EVs, JSW can exploit synergies — for example, supplying steel for auto structures, capturing energy storage opportunities, or leveraging land / logistics capabilities. 

This "end-to-end" integration is a key differentiator: instead of merely being a car maker, JSW can become an EV ecosystem player.

8. Risks and challenges ahead

None of this is without significant risk. Some of the challenges include:

• Execution risk: Building EV and battery factories, setting up supply chains, and meeting regulatory norms is complex.
• Technology dependence: Licensing battery or vehicle technology from foreign firms may invite royalty burdens or dependency.
• Market competition: India’s EV space already has incumbents such as Tata, Mahindra, MG, and new entrants — capturing consumer trust and volume is not trivial.
• Capital intensity: Electric mobility demands massive capital up front, with long gestation periods before returns.
• Regulatory / policy risk: Incentive schemes, import duties, localisation norms, and subsidies can shift with government policy changes.

9. What these changes signal about JSW’s ambition

Overall, the board reshuffle and structural overhaul are more than cosmetic — they are foundational moves signaling that JSW is serious about EVs. By placing domain experts on governance, aligning capital flow, and ensuring integration across key assets, the group is laying a scalable framework. 

If successful, JSW might evolve into a hybrid conglomerate combining materials, energy, and mobility — rather than just another automaker. But success will depend on delivering reliably, managing costs, retaining control of technology, and responding nimbly to market dynamics.

Conclusion

The changes at JSW’s board and organizational design are a clear prelude to its electric vehicle ambitions. As the group moves from concept to concrete execution, these shifts are intended to ensure governance is aligned, capital is ready, and cross-company synergies are harnessed. If JSW can overcome execution challenges and carve its niche in India's competitive EV landscape, these early structural moves could mark the difference between faltering and becoming a formidable player in the auto-mobility future.