Green Drive: JSW's EV Investment.!

Sindujaa D N
JSW Group, a leading steel manufacturing company in the country, has announced its foray into Electric Vehicle (EV) and EV battery manufacturing, marking a significant entry into the EV sector. The company plans to invest approximately Rs 40,000 crores in this initiative, creating around 11,000 jobs. 

As part of this venture, JSW Group has signed a Memorandum of Understanding (MoU) with the odisha government for the establishment of these plants, with potential locations in cuttack and Paradip. The project includes the setup of an electric vehicle battery plant with a capacity of 50 gigawatts, contributing to the advancement of green energy initiatives. Additionally, the project encompasses the establishment of facilities for electric vehicles, lithium refinery, copper smelter, and parts manufacturing.

Odisha chief minister Naveen Patnaik expressed enthusiasm about the prospects of the green energy sector, stating that the project will strengthen EV infrastructure in the state and generate employment opportunities. He emphadata-sized the creation of high-skilled jobs, support for state industrialization, and economic progress, fostering youth training in the EV sector.

JSW Group Chairman Sajjan Jindal highlighted the significance of the EV and battery plant in strengthening relations with odisha and benefiting all stakeholders. The initiative is expected to drive innovation, employment, and economic growth, marking the company's entry into the promising EV sector.

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