MUMBAI/NEW DELHI, Sept. 22 -- Billionaire Sajjan Jindal, who made his fortune selling steel, is putting Rs.2,000 crore behind a new electric-truck and bus business, targeting industrial customers whose predictable routes could make electric commercial vehicles commercially viable despite their higher upfront cost.

Jindal's JSW Greentech Ltd, which houses the commercial vehicle business, on Tuesday unveiled its new Ampstar brand of electric trucks and buses, with the first vehicles set to go on sale within weeks.

The immediate opportunity is narrower: moving raw materials to steel and cement plants, where trucks typically run fixed routes. Such closed-loop operations make charging more predictable and can make electric vehicles (EVs) com...