JSW Greentech has launched Ampstar, its electric commercial vehicle brand, with plans to build a presence across heavy trucks, buses and, eventually, light and small commercial vehicles.
The company showcased a 55-tonne electric tractor-trailer and an electric bus in Mumbai on Tuesday. Commercial production at its Greenfield plant in Chhatrapati Sambhajinagar is expected to begin within the next 30 days.
JSW Greentech is targeting production of 500-1,000 vehicles in the current financial year, with trucks expected to account for around 60% of the output and buses the remaining 40%.
“This year, we are targeting anything between 500 and 1,000 units,” said Sumit Mittal, CEO of JSW Greentech. “We will then ramp it up exponentially over the next three to four years to 70-80% capacity utilisation.”
The plant will have annual capacity for 15,000 vehicles, comprising 10,000 electric buses and 5,000 electric trucks. Beyond the initial facility, JSW Group has outlined an ambition to create capacity for 100,000 electric trucks by 2030, which could position it among the larger participants in India’s commercial vehicle market.
The group is investing about ₹2,500 crore in the first phase of the business. Around ₹1,500 crore will be funded through debt, with the remaining ₹500 crore coming as equity from the parent group.
Heavy Trucks to Lead First Phase
Ampstar will initially focus on 55-tonne tractor-trailers, the upper end of the commercial vehicle market. The company plans to establish its operating and technology credentials in heavy-duty applications before moving into other segments.
“We are starting with 55-tonners, which are at the top of the league and the most complex part,” Mittal said. “If you have proved yourself with a product in the top segment, participating in all the other segments becomes easier.”
The company plans to expand its truck portfolio with tippers, fixed-body trucks and dumpers. It will eventually move into intermediate, light and small commercial vehicles, broadening its addressable market beyond large fleet operators.
The trucks will be available with fixed and swappable battery architectures. Battery configurations will be customised according to the application, with options extending from the initial 282kWh configuration to 400kWh, 450kWh and 500kWh.
“Our product is not an off-the-shelf product. It is customised,” Mittal said. “Depending on the features and the application, the prices will vary.”
The first set of customers will include operators serving steel, cement, mining and port businesses. These applications involve predictable closed-loop routes, high daily utilisation and the ability to install charging or battery-swapping infrastructure at fixed locations.
JSW plans to deploy its first 100 battery-swapping electric trucks between its Vijayanagar steel plant and cement facility at Nandyal from next month.
The group’s steel, cement and port businesses are served by around 17,000 trucks. JSW estimates that 40-50% of these vehicles could be electrified relatively quickly because they operate on closed-loop routes.
This captive requirement gives Ampstar an initial demand base and allows JSW to demonstrate vehicle performance and operating savings before scaling supplies to external customers. The company has no immediate export plans and will focus on India.
Buses From Seven to 18 Metres
Ampstar will serve as the common brand for JSW Greentech’s electric trucks and buses. Its planned electric bus portfolio will span vehicles measuring seven to 18 metres.
The buses will address staff transportation, city services, school transportation and airport-tarmac applications. The Chhatrapati Sambhajinagar facility will have in-house electric-bus body-building capability, giving the company control over vehicle integration and customisation.
JSW has also created a wholly owned mobility subsidiary to participate in government tenders and private contracts. Customers will be able to buy vehicles outright or opt for cost-per-kilometre and wet-lease models covering the vehicle, charging infrastructure and maintenance.
“The idea is to be an all-in partner because these are customers who are ready to take the bold call of moving from diesel to electric,” Mittal said.
Battery-as-a-service (BaaS) will form another part of the offer. Separating battery ownership from the vehicle could lower the initial acquisition burden and bring electric trucks closer to diesel vehicles on operating economics.
Mittal said the company wants to narrow the price gap with diesel trucks, although the larger advantage is expected to come through total cost of ownership.
“Our chairman’s thought has been that we need to crash the price to get to a level where it comes much closer to the diesel counterpart. That is when the real disruption will happen,” he said.
The company expects electric trucks to offer a 15-20% total-cost-of-ownership advantage, depending on the application, battery configuration and vehicle utilisation.
Integrated Manufacturing Operation
Spread over 90 acres, the Chhatrapati Sambhajinagar facility will house vehicle assembly, truck-cabin manufacturing, electric-bus body building and battery-pack operations.
The plant will have a cell-to-battery-pack assembly facility, although battery cells will initially be imported. JSW Greentech has described it as India’s first integrated cell-to-battery-pack facility for electric commercial vehicles.
The company also claims it will be India’s first commercial vehicle plant equipped with a pre-treatment and electro-deposition facility, a process used to improve corrosion protection and vehicle durability.
Its production systems will integrate enterprise resource planning, product lifecycle management and manufacturing execution systems as part of an Industry 4.0 manufacturing architecture. The plant’s groundbreaking took place in October 2024.
B2B Sales Model
JSW Greentech will initially follow a direct business-to-business sales model rather than create a nationwide dealership network. It may appoint a limited number of dealers in markets where they can support clusters of fleet customers.
“As of now, we are not going with the dealer strategy,” Mittal said. “It is usually a B2B model that we are focusing on. We might have a few dealers in some locations to service customers better.”
The company plans to establish maintenance depots as it expands into more states. A wider dealership network will be required when Ampstar enters small commercial vehicles, which are largely purchased by individual operators.
JSW Greentech said its products have received financing approvals from ICICI Bank, HDFC Bank, Canara Bank and State Bank of India. The group will also support financing for logistics operators whose vehicles are deployed on contracts serving JSW companies.
Localisation to Reach 50%
Ampstar’s vehicle-control software, battery-pack design and vehicle-control unit have been developed in India. The company is working with suppliers including ZF and Dana for mechanical systems, while battery cells will initially be sourced from China.
JSW Greentech plans to retain control over the vehicle architecture, software and design while creating a domestic supplier network. Of its first 100 hires, 88 were in research and development.
The company expects truck localisation to reach around 50% within six months.
“Our localisation plan for the trucks is ongoing. Within six months, we should be around 50% localised,” Mittal said. “We will own the entire software, architecture and design, and work with partners to create the supply chain around it.”
With inputs from Ketan Thakkar and Prerna Lidhoo