In Odisha, JSW Group will invest Rs 40000 crore for an EV and battery plant.
Economic Times
India
12-02-2024
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JSW Group plans to invest ?40,000 crore in its electric vehicle and component manufacturing projects in Cuttack and Paradip. Both projects are expected to create over 11,000 new jobs in the State.
Investing in phases, JSW Group will set up an EV and EV battery manufacturing unit at Naraj, Cuttack, at an investment of ?25,000 crore.
The group will use the most advanced battery technology with a capacity of 50 GWH and will be the world’s largest single-location project in the sector. It will cater to both mobility and energy storage systems.
The company will also set-up an OEM (original equipment manufacturer) plant for electric vehicles and components in the same integrated complex. Electric vehicle and battery manufacturing will generate employment for over 4,000.