Two Indian conglomerates are looking to spend nearly $1 billion to build domestic capabilities in electric-vehicle and battery technologies, people familiar with the matter said, reflecting a growing urgency on the part of the country’s biggest companies to reduce their reliance on Chinese technology.
Tata Group and JSW Group are separately funding research and development centers aimed at building in-house expertise in next-generation battery technologies and advanced EV systems, said the people who asked not to be identified because the details are private.
