The two conglomerates are funding separate R&D centres focused on next-generation battery chemistries and advanced EV systems. The investment is a hedge: both groups currently buy critical battery components from Chinese suppliers and want options when Beijing tightens export rules again. India’s two largest steel-and-everything-else conglomerates are putting close to $1bn behind a question that has become urgent for the country’s electric-vehicle industry: what happens when the Chinese suppliers stop picking up the phone? Tata Group and JSW Group are separately funding research-and-development centres aimed at building in-house expertise in next-generation battery technologies and advanced EV systems, Bloomberg reported on Wednesday, citing people familiar with the plans. The combined commitment is just under $1bn. Both companies are reasoning from the same exposure. India’s EV industry, including their own businesses, runs heavily on Chinese cells, materials and equipment.…