As part of the JV, the two companies plan to establish a battery manufacturing plant in India with a combined capacity of 10GWh.
The companies have signed an initial agreement for an equal partnership, where LGES will provide technology and equipment and JSW will invest money.
JSW will likely use about 70% of this capacity for energy storage and EVs, while LGES will use the rest."
LGES wanted a partner in India and JSW is interested because it is coming up with its own brand of EVs starting with buses and trucks, and later on cars," a source familiar with the discussions said.