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Mumbai: Within two years of announcing its intentions to enter the disruptive electric vehicles manufacturing space, Sajjan Jindal-led JSW Energy has abandoned its plan owing to high uncertainties associated with the business as well as unfavorable policy for personal buyers; instead it intends to maintain capital for growth opportunities in the power sector.
The company had earmarked Rs 6,500 crore for this venture and was in advanced talks with General Motors to acquire the...