JSW shift Rs 40,000 crore EV projects to Maharashtra from Odisha

The JSW Group has opted to transfer its planned Rs 40,000 crore electric vehicle (EV) and battery project from Odisha to Maharashtra, seven months after formalising a deal with the former Biju Janata Dal administration led by Naveen Patnaik, according to a report by Mint, 

According to the news report, the company, helmed by Sajjan Jindal, is currently looking at Aurangabad and Nagpur in Maharashtra for EV and associated projects.

In February of this year, the JSW Group signed an MoU with the Odisha government to establish EV and battery manufacturing facilities in Cuttack and Paradip. The proposed projects included electric automobiles, a 50 GWh battery facility, electric powertrains, a lithium refinery, and other industrial units.

JSW is also looking into technology transfer agreements with a Chinese cell technology vendor to help it achieve its EV targets, according to the article. The firm intends to enhance its EV supply chain, particularly because its primary subsidiary, JSW Steel, currently supplies steel to MG Motor India's electric vehicles.

Furthermore, JSW Group is also developing its partnership with MG Motor India through a variety of activities targeted at increasing the automaker's footprint in the Indian market. One major advance is the introduction of a battery leasing model, which will allow consumers to rent batteries for their MG electric vehicles, cutting upfront costs and making EV ownership more affordable, according to the research.

Additionally, JSW and MG Motor India are planning to launch MG JSW Select, a premium sales network that will offer exclusive sales, service, and support for MG's electric cars. According to the article, this dealership concept is intended to provide a smooth and upmarket ownership experience for a new line of high-end automobiles from SAIC Motors' worldwide inventory.