Odisha Government Approves JSW’s Proposal to Set Up 5 Billion EV Manufacturing Units

The Odisha government approved JSW Group's proposal to set up electric vehicles and utility manufacturing units in Cuttack and Jagatsinghpur districts with an investment of USD 5 billion. The cabinet meeting, presided over by Chief Minister Naveen Patnaik, approved the proposals.

The chief secretary stated that the cabinet approved a special incentive package for the JSW group's ambitious project. Furthermore, these initiatives will generate 11,000 job opportunities and are poised to usher in a new era of industrial expansion and job generation in the state.

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The JSW group will set up an EV and EV battery manufacturing unit at Naraj, Cuttack. Additionally, the company is also planning to establish an original equipment manufacturing plant for EVs and components in two phases. Subsequently, JSW will invest USD 3 billion for this facility.

Additionally, the group is also planning to develop an EV component manufacturing complex, which will include a copper smelter along with a lithium smelter at Paradip in the third phase. JSW intends to invest USD 2 billion for this project.

About JSW Group

The JSW Group is a major Indian multinational conglomerate headquartered in Mumbai, India. It is a component of the O.P. Jindal Group and is under Sajjan Jindal's leadership. The group's diverse businesses include steel, energy, infrastructure, cement, and paints, with operations across India, the United States, South America, and Africa.

In 2023, JSW formed a strategic joint venture with SAIC Motor, a leading Chinese automaker, to accelerate growth in the Indian market with a focus on green mobility. This joint venture, with JSW holding a 35% stake, leverages SAIC's expertise in EV technology and production to bring new and innovative EVs to India. 

JSW Group has a wide presence in different sectors. Some of the projects executed by the JSW Group include:

• Green Hydrogen Plant in Karnataka
• Expansion of Dolvi Plant

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