JSW Group, a leading conglomerate, has unveiled ambitious plans to invest a staggering ₹40,000 crore in Electric Vehicles (EV) and component manufacturing projects in Odisha. This significant investment is slated for two key locations: Cuttack and Paradip, and is anticipated to generate over 11,000 employment opportunities within the state.
In the first phase of investment, JSW Group will establish an EV and EV battery manufacturing unit in Naraj, Cuttack, with an investment of ₹25,000 crore. This facility will be equipped with cutting-edge battery technology boasting a capacity of 50 GWH, making it the world’s largest single-location project in this sector. It aims to cater to both mobility and energy storage systems. Additionally, an OEM plant for electric vehicles and components will also be set up in the integrated complex, creating employment opportunities for over 4,000 individuals.
Moving forward, the Group’s investment will extend to the Paradip region, where ₹15,000 crore will be allocated to establish an EV components manufacturing complex. This facility will include copper and lithium smelters, expected to generate over 7,000 jobs. With the capacity to serve 1 lakh commercial e-vehicles annually and 3 lakh passenger electric cars, the components plant is poised to play a pivotal role in driving the growth of electric mobility. Furthermore, the company envisions setting up an R&D center to explore newer technologies in manufacturing, demonstrating its commitment to innovation and advancement in the EV sector.
JSW Group, a leading conglomerate, has unveiled ambitious plans to invest a staggering ₹40,000 crore in Electric Vehicles (EV) and component manufacturing projects in Odisha. This significant investment is slated for two key locations: Cuttack and Paradip, and is anticipated to generate over 11,000 employment opportunities within the state.
In the first phase of investment, JSW Group will establish an EV and EV battery manufacturing unit in Naraj, Cuttack, with an investment of ₹25,000 crore. This facility will be equipped with cutting-edge battery technology boasting a capacity of 50 GWH, making it the world’s largest single-location project in this sector. It aims to cater to both mobility and energy storage systems. Additionally, an OEM plant for electric vehicles and components will also be set up in the integrated complex, creating employment opportunities for over 4,000 individuals.
Moving forward, the Group’s investment will extend to the Paradip region, where ₹15,000 crore will be allocated to establish an EV components manufacturing complex. This facility will include copper and lithium smelters, expected to generate over 7,000 jobs. With the capacity to serve 1 lakh commercial e-vehicles annually and 3 lakh passenger electric cars, the components plant is poised to play a pivotal role in driving the growth of electric mobility. Furthermore, the company envisions setting up an R&D center to explore newer technologies in manufacturing, demonstrating its commitment to innovation and advancement in the EV sector.
