JSW Motors lands $826M SBI loan to build greenfield EV plant in Maharashtra
JSW Motors has secured an 80 billion rupee ($826 million) facility from State Bank of India with a 10-year-plus tenor to fund a greenfield EV manufacturing site in Maharashtra. The deal underwrites India's first new homegrown auto brand in decades, positioning JSW alongside JV partners SAIC and Chery in a market where credit growth is running at 13-14.5%.
JSW Motors secured an 80 billion rupee ($826 million) loan from SBI with a 10-year-plus tenor to fund a greenfield EV manufacturing facility in Maharashtra, marking India's first homegrown auto brand in decades.