In last Friday’s first half of the 2023 Zero Run car earnings call, Leapmotor management said, “Volkswagen intends to buy Leapmotor a certain generation of platform technology, help its Jetta brand electrification transformation” Rumors, outside reports do not make specific comments, Leapmotor has the potential for foreign technology cooperation opportunities, and actively build and seek cooperation opportunities. And actively build and seek cooperation opportunities.
Today, Reuters quoted sources as saying that India’s steel and energy JSW Group is in early talks with Zero Run Automobile to obtain a technology license to build electric cars in India.
Founded in 1982, Kingfisher South West Steel Ltd. is one of India’s largest steel companies with an annual production capacity of more than 18 million tons, and is a leading player in India’s steel, power, mining, oil, gas and infrastructure sectors, with a presence in more than 140 countries.
Sources said. This is the company’s second attempt to enter this space (the company had tried to enter the electric car market in 2016). Under the technology licensing agreement, JSW will use Zero Run’s technology platform to manufacture electric vehicles in India under its own brand name.
JSW will likely use a single platform that can make at least three mid-sized SUVs, a source said, adding that Zero Run will design cars for the Indian company. The sources, however, did not say when production is likely to begin.
It’s also worth noting that the group had been in talks with China’s SAIC Group to buy a stake in MG Motor India, but those talks have slowed down.
Indeed, the market for electric vehicles in India is still very small, with Tata Motors accounting for less than 2% of its sales in the last fiscal year, but the Indian government hopes to increase its EV penetration to 30% by 2030.
JSW wants to sell cars under its own brand and needs technology more than investment or joint ventures with existing automakers,” said one of the people, who added that the company has been in talks with several other Chinese automakers.
All the sources declined to be named as the talks are still ongoing and no final decision has been made, while JSW as well as Zero Motors also declined to comment.
There are also reports in the Indian media that JSW is in talks with Chinese companies about technology and acquiring Ford Motor Company’s plant in southern India. The plant is said to have been withdrawn from the market and discontinued in 2022.
It’s worth noting that Tesla is also targeting the growing Indian market, and has already begun talks with the Indian government, after revelations indicated that Tesla wants to set up a factory in India to produce affordable electric cars. In addition, the Indian government is also developing a new policy, plans to attract investment in electric car manufacturers by reducing import tariffs to support the development of local manufacturing.
According to foreign media reports, Zero Run is also in talks to partner with other automakers, including Stellantis and Volkswagen.