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JSW Energy has acquired 100% stake in JSW Electric Vehicles and post this acquisition, JSW Electric Vehicles has become a wholly owned subsidiary of the company.
JSW Electric Vehicles has been set up to, manufacture electric motor vehicles, all types of parts, spare parts, engines, appliances ans apparatus, equipment, etc.
This acquisition is a part of diversification strategy of JSW Energy to enter into electric vehicles, energy storage systems and charging infrastructure which will be harbored under the acquired entity-JSW Electric Vehicles. Furthermore, the shares have been acquired for cash consideration at Rs.1 lakh being the face value of the shares.
