Uber, JSW Group tie up to deploy EVs in India's ride-hailing market

Uber Technologies,Inc.

Uber Technologies,Inc.

UBER

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May 21 - Ride-hailing firm Uber UBER.N saigned an agreement with Indian steel-to-cement conglomerate JSW Group on Thursday to develop and deploy electric vehicles for the domestic market.

Here are some details:

  • The vehicles will be tailored for India's ride-hailing market to help scale EV adoption, the companies said in a statement, without disclosing any financial details.

  • Earlier this year, JSW MG Motor, a joint venture between China's SAIC Motor 600104.SS and JSW Group, said it plans to invest up to $440 million to expand its India factory and launch new hybrid and electric models.

  • EVs accounted for 7.29% of India's total auto sales, as of the third quarter of fiscal year 2026, with two- and three-wheelers making up the bulk of purchases, according to the Indian Brand Equity Foundation.


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