JSW Group Relocates ₹40,000 Crore EV Initiative to Maharashtra from Odisha
The JSW Group has decided to shift its planned ₹40,000 crore electric vehicle (EV) and battery manufacturing project from Odisha to Maharashtra, according to a report by Mint. This move comes seven months after the conglomerate, led by Sajjan Jindal, formalized an agreement with the previous Odisha government under Chief Minister Naveen Patnaik.
JSW is now eyeing locations in Aurangabad and Nagpur, Maharashtra, for its EV and related ventures, the report stated.
In February 2024, JSW Group signed a memorandum of understanding (MoU) with the Odisha government to establish EV and battery manufacturing facilities in Cuttack and Paradip. The project plans included the production of electric vehicles, a 50 GWh battery plant, electric powertrains, a lithium refinery, and other associated units.
As competition heats up between states like Gujarat and Maharashtra to attract large investments in emerging sectors such as semiconductors and electric vehicles, Maharashtra has secured several major projects. In August, the office of Maharashtra Chief Minister Eknath Shinde announced multiple high-value initiatives, including a ₹25,000 crore lithium battery project by JSW Energy PSP Eleven Ltd in Nagpur, projected to create over 5,000 jobs.
Additionally, JSW Green Mobility Ltd plans to invest ₹27,200 crore in Chhatrapati Sambhaji Nagar (formerly Aurangabad) to establish Maharashtra’s first large-scale electric and hybrid vehicle factory. This facility aims to produce 500,000 electric passenger cars and 100,000 commercial vehicles annually, generating over 5,200 jobs.
