China’s Chery Automobile Co. will supply technology and components to billionaire Sajjan Jindal’s JSW Group to help launch a new-energy vehicle brand in India by 2027, according to people familiar with the matter.
Under an agreement between the two companies, JSW will pay Chery a one-off technology transfer fee and recurring royalties, said the people, who asked not to be identified because the information is private. There is no equity arrangement, in line with India’s restrictions on Chinese investment in strategic sectors.
