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JSW Motors has secured a funding line of nearly Rs 8,000 crore from State Bank of India to support its electric vehicle (EV) manufacturing expansion plans.
The long-term financing facility, with a tenure of over 10 years, will partly fund the company’s upcoming greenfield manufacturing plant in Maharashtra as JSW Motors expands its presence in India’s growing electric and hybrid vehicle market.
According to reports, SBI may later syndicate a portion of the exposure to other lenders depending on demand in the secondary loan market. The financing is expected to strengthen domestic automobile manufacturing and reflects increasing confidence among Indian financial institutions in the country’s evolving electric mobility sector.
JSW Motors already has partnerships with SAIC Motor Corp. through JSW MG Motor India, as well as with Chery Automobile Co. for new-energy vehicle initiatives. The project aligns with India’s broader focus on clean mobility and indigenous automotive manufacturing.
News by Rahul Yelligetti.
