JSW's Rs 40,000 Crore Investment in EV Battery Manufacturing

electric vehicle battery manufacturing

J.S.W., a large industrial company in India, is preparing to invest heavily in manufacturing batteries for electric vehicles. Group. JSW is investing Rs 40,000 crore to develop systems including electric vehicles and batteries for them. The group is about to conduct. A plant to manufacture electric vehicles and batteries is being prepared in Odisha.

Electric vehicle manufacturing in major areas of Odisha such as Cuttack and Paradip and EVs. J.S.W. has tied up with the Odisha government to set up a battery manufacturing plant. Reports suggest that the group has signed a memorandum of understanding. These plants include a 50GWh electric battery plant, electric vehicles, lithium refinery, copper smelter and related equipment.

J.S.W. With the realization of this project of the group, it is estimated that it will bring great benefits in the field of micro, small and medium enterprises. Apart from this, the company also claims that it will open up huge potential in the auto component supply chain. The JSW Group also informed that 11,000 new job opportunities will be created in the state after the operation of the plant starts.

MG, which is owned by the Chinese car manufacturer Saik Motors. JSW, led by Sajjan Jindal, acquired 35 percent of Motors India last December. Owning the group. It was announced that Saik Motors will continue its partnership with MG by transferring new technologies. The indications were that the company will focus more on the electric vehicle sector.

The money that has arrived through the collaboration between the two companies is M.G. There were indications that Motors would invest in a second vehicle plant being set up in Gujarat. MG is to increase the annual manufacturing capacity of the company to three lakhs. Motors Investment Accepted. Currently the manufacturing capacity is 70,000 units. After the construction by the end of the financial year 2024, the moves to increase it to 1.2 lakh units are also in progress.

MG also plans to focus on the concept of green mobility through its collaboration with Saik Motors. The head of JSW opined that it will pave the way for further expansion of Motors’ operations. They also informed that the aim of the company is to manufacture vehicles using locally manufactured equipment and ensure operations that give more importance to users.