JSW group moves Rs 40,000 crore EV Project to Maharashtra from Odisha

The JSW Group has chosen to move its proposed Rs 40,000 crore electric vehicle (EV) and battery project from Odisha to Maharashtra, following an agreement made with the former Biju Janata Dal government under Naveen Patnaik seven months ago.

According to the news report, the conglomerate, under the leadership of Sajjan Jindal, is currently considering Aurangabad and Nagpur in Maharashtra for its EV and associated projects.

Earlier this year, in February, JSW Group signed a memorandum of understanding with the Odisha government to establish electric vehicle and battery production plants in Cuttack and Paradip. The scheduled manufacturing activities consisted of electric cars, a 50 GWh battery factory, electric drivetrains, a lithium processing facility, and different associated production facilities.

According to the report, JSW is also investigating technology transfer partnerships with a Chinese company specializing in cell technology to further its EV objectives. The company's goal is to enhance its electric vehicle supply chain, particularly because its primary subsidiary, JSW Steel, is already providing steel for MG Motor India's electric cars.

Moreover, JSW Group is increasing its partnership with MG Motor India through several programs to enhance the automaker's visibility in the Indian market. The introduction of a battery rental model is a significant advancement, enabling customers to rent batteries for their MG electric vehicles. This will reduce initial expenses and increase the affordability of owning an EV, according to the report.