 "JSW group moves Rs 40,000 crore EV initiative to Maharashtra from Odisha")
The JSW Group has decided to relocate its planned Rs 40,000 crore electric vehicle (EV) and battery project from Odisha to Maharashtra, seven months after formalising an agreement with the previous Biju Janata Dal government under Naveen Patnaik, according to a report by Mint.
The conglomerate, led by Sajjan Jindal, is now looking at Aurangabad and Nagpur in Maharashtra for its EV and related projects, the news report said.
In February this year, the JSW Group entered into a memorandum of understanding (MoU) with the Odisha government to set up EV and battery manufacturing facilities in Cuttack and Paradip. The planned manufacturing operations included electric vehicles, a 50 GWh battery plant, electric powertrains, a lithium refinery, and various related production units.
Focus on Chinese technology
JSW is also exploring technology transfer agreements with a Chinese cell technology provider to advance its EV goals, the report said. The company aims to strengthen its EV supply chain, especially since JSW Steel, its main subsidiary, is already supplying steel for MG Motor India’s electric vehicles.
Additionally, JSW Group is expanding its collaboration with MG Motor India through various initiatives aimed at boosting the automaker’s presence in the Indian market. A notable development is the launch of a battery rental model, which will allow customers to rent batteries for their MG electric vehicles, thereby lowering upfront costs and making EV ownership more accessible, the report said.
Furthermore, JSW and MG Motor India are set to introduce a premium sales network named MG JSW Select, which will provide exclusive sales, service, and support for MG’s electric vehicles. This dealership model is designed to ensure a seamless and upscale ownership experience for a new range of high-end vehicles from SAIC Motors’ global portfolio, the report stated.
More From This Section
Gujarat, Maharashtra eye investments
Gujarat and Maharashtra are currently vying to attract substantial investments in booming sectors like semiconductors and electric vehicles. In August, the office of Maharashtra Chief Minister Eknath Shinde announced several significant projects, including a Rs 25,000 crore lithium battery initiative by JSW Energy PSP Eleven Ltd in Nagpur, projected to create over 5,000 jobs.
Additionally, JSW Green Mobility Ltd is set to invest Rs 27,200 crore in Chhatrapati Sambhaji Nagar (formerly Aurangabad) to establish the state’s first large-scale factory for electric and hybrid vehicles, which aims to produce 500,000 electric passenger cars and 100,000 commercial vehicles annually, generating over 5,200 jobs, the report said.