JSW Energy has hired the former Director for Sales and Marketing, Hyundai Motor India, Rakesh Srivastava to take its vision of establishing itself in the electric vehicles industry ahead.
Lately, JSW Group has engaged with several Chinese carmakers for its electric vehicles venture, and is also in talks with several state governments, including Gujarat and Maharashtra, for establishing a manufacturing facility. It was in 2020 that JSW Energy was initially planning of entering the passenger car market with an electric vehicle and soon after, it decided to increase its scope of entry into the automotive sector by adding commercial vehicles, including buses, trucks and small trucks.
The new appointment is also said to be in line with this expansion vision of JSW Energy as Rakesh is expected to be part of the senior leadership team that will prepare a blueprint for helping the JSW Group achieve its automotive ambitions. Rakesh makes a prudent choice for the role as he brings with him almost 30 years of experience and has transformed businesses for some major brands in the automotive industry.
An IIM Ahmedabad alumnus, Rakesh has worked with companies like Maruti Suzuki and Hyundai Motor India. In 2012, when he joined Hyundai India, the carmaker’s volume stood at 3 lakh units per annum and leaves it at 5,09,707 units—the highest ever—in 2017-18. Under his leadership, Hyundai’s market share grew to 17 percent from 14 percent during this period.
Earlier, when he left Hyundai in August, after a six-year stint, the speculations were that he might join BMW India as country head. Now, the latest update disregards his relation with BMW and confirms his association with the JSW Group.
Strong leadership will be one of the essential drivers for the JSW Group in fulfilling its automotive ambitions. In the coming few months, the company might hire a few more leaders or restructure to strengthen its leadership team.