According to a Mint article, the JSW Group has chosen to move its proposed Rs 40,000 crore electric vehicle (EV) and battery project from Odisha to Maharashtra, just seven months after formally entering into an agreement with the former Biju Janata Dal administration led by Naveen Patnaik. According to the news article, the company, headed by Sajjan Jindal, is currently considering EV and related projects in Nagpur and Aurangabad, Maharashtra.
The JSW Group and the Odisha government signed a memorandum of understanding (MoU) in February of this year to establish EV and battery manufacturing facilities in Cuttack and Paradip. Electric cars, a 50 GWh battery facility, electric powertrains, a lithium refinery, and other associated production units were all part of the proposed manufacturing operations.
JSW To Pay Attention to Chinese Technology
According to the article, JSW is also looking into technology transfer agreements with a Chinese supplier of cell technology in order to further its EV objectives. The business wants to fortify its EV supply chain, particularly because its primary subsidiary, JSW Steel, currently provides steel for the electric cars produced by MG Motor India. Through a number of measures meant to increase MG Motor India’s market share in India, JSW Group is also deepening its partnership with the carmaker.
According to the research, a noteworthy development is the introduction of a battery rental model that will enable consumers to rent batteries for their MG electric cars, reducing upfront expenses and increasing accessibility to EV ownership. In addition, JSW and MG Motor India plan to launch MG JSW Select, a premium sales network that will offer MG’s electric vehicle exclusive sales, servicing, and support. According to the article, this dealership concept is intended to guarantee a smooth and elegant ownership experience for a new line of high-end cars from SAIC Motors’ worldwide inventory.
Maharashtra and Gujarat want investments
Right now, Gujarat and Maharashtra are fighting for big investments in industries that are growing quickly, including semiconductors and electric cars. Chief Minister of Maharashtra Eknath Shinde’s office unveiled a number of noteworthy projects in August, one of which was a Rs 25,000 crore lithium battery venture by JSW Energy PSP Eleven Ltd in Nagpur, which is expected to generate over 5,000 jobs.
According to the report, JSW Green Mobility Ltd is also planning to invest Rs 27,200 crore in Chhatrapati Sambhaji Nagar (formerly Aurangabad) to build the first large-scale factory for electric and hybrid vehicles in the state. The factory’s goal is to produce 100,000 commercial vehicles and 500,000 electric passenger cars annually, creating over 5,200 jobs.
