South Korea’s LG Energy and Indian firm JSW Energy partner to launch a $1.5 billion battery venture in India.

LG Energy Solution (LGES) and JSW Energy are in discussions to establish a battery manufacturing joint venture (JV) in India, with a planned investment of over $1.5 billion. The partnership would see LGES provide technology and equipment for battery production, while JSW Energy would provide the financial investment. The JV would include the construction of a 10GWh battery plant in India, with JSW expected to use approximately 70% of the capacity for energy storage and electric vehicles. The agreement is non-binding, with both companies aiming to finalize the talks over the next few months. The plant is expected to be operational by the end of 2026. This collaboration would mark a strategic move for LGES, allowing it to tap into India’s growing electric vehicle market, where it already supplies batteries to e-scooter manufacturers. For JSW Energy, this partnership builds on its prior investments in MG Motor’s India unit and SAIC Motor, and is part of its strategy to develop its own electric vehicle brand and expand its presence in the automotive sector.