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The need for indigenously manufactured electric cars is increasing day by day as CBU units won’t be feasible for the cost conscious country of ours. Thus the government is providing support for non-polluting vehicles and JSW Group plans to capitalise on this front. Also Read - Amid UNGA Meetings, G4 Nations Demand 'Urgency' in Reform of UN Security Council

The company which originally deals in steel and infrastructure is entering car manufacturing space which has been dominated by Mahindra electric vehicles only. The electric vehicles in the country are limited due to high costs which don’t seem to come down despite incentives from Government like low taxes and excise cuts to increase the number of such vehicles like this to seven million units by 2020, from around 20,000 now. Also Read - KKR vs MI Dream11 IPL 2020 Highlights: Rohit Sharma, Jasprit Bumrah Star as Mumbai Beat Kolkata by 49 Runs

The company hopes to make great use of the help which has been promised to them by Union Transport Minister Nitin Gadkari who visited California to pay a visit to the US electric car making giant Tesla Motor’s factory at the beginning of this year. One of the sources with some insight into the matter revealed that with its own supply of steel, JSW can keep prices competitive whilst manufacturing the car. According to a ministry report Gadkari has offered Tesla help in setting up a plant in India and help them seek local partners as well.

The source from the company has said that JSW is aiming to emulate Tesla like technology but refrained from saying whether there could be a tie-up between them. JSW has setup a team of eight officials working round the clock for development of the project and the company has also approached several automobile executives hailing from India including an official working with Nissan.

The debt-ridden JSW is headed by Seshagiri Rao, as the finance head who has refused to comment for the time being on the whole situation. The ministry, however says on its website that it can spend around $ 2 billion by 2020 to increase the feasibility of electric vehicles in country by promoting charging infrastructure as well like Tesla’s superchargers.