JSW Group announces plans to invest almost USD4.82bn in building new CV, car and battery plants in the Indian state of Odisha
By RACE Innovations Pvt Ltd - 29th June 2024
JSW Group to build EV and battery plants in Odisha
India – The JSW Group of Mumbai has signed a Memorandum of Understanding (MoU) with the government of Odisha, to building an integrated Electric Vehicle (EV) and EV battery manufacturing facility in Cuttack, Odisha State. Its plan is to build a facility to manufacture 1 lakh (100,000) electric commercial vehicles and 3 lakh (300,000) electric passenger vehicles a year. The plan also includes the establishment of a copper smelter and lithium refinery. The construction of all facilities is expected to be complete within 18-24 months.
The company stated that the project is to represent an investment of approximately USD4.82bn and is projected to generate employment opportunities for approximately 11,000 individuals. No further details investment was provided.
