JSW Group to set up battery and EV plants in Maharashtra
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JSW Group's Rs 81,167 Crore Investment in Maharashtra to Create 23,000+ Jobs
Date: July 31, 2024Loading...
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JSW Group's Rs 81,167 Crore Investment in Maharashtra to Create 23,000+ Jobs
Date: July 31, 2024Maharashtra- JSW Group's an Indian multinational conglomerate, JSW Energy Ltd., and JSW Green Mobility Ltd., have received state government approval for setting up manufacturing plants in Maharashtra. On July 29, the Maharashtra government cleared seven new investment projects, sanctioning a significant investment of Rs 81,167 crore. This initiative is expected to create 23,136 jobs.
Notably, 93% of this investment, amounting to Rs 75,632 crore, along with 19,000 jobs, will be allocated to the Vidarbha and Marathwada regions. The investments will primarily focus on green energy, green mobility, and semiconductor manufacturing.
JSW Energy will invest Rs 25,000 crore to build a lithium-ion battery plant in Nagpur, creating 5,000 jobs. Meanwhile, JSW Green Mobility will invest Rs 27,200 crore in Auric, Chhatrapati Sambhajinagar, to produce electric and hybrid vehicles, chargers, and related modules.
The demand for electric vehicles (EVs) in India is rising. From January to July 2024, 1.06 million EVs were sold, marking a 27% increase from the same period in 2023. Maharashtra is at the forefront of electric mobility, with 376,803 EVs sold in 2023, accounting for 11% of the national market. The state leads in the number of electric two-wheelers, cars, SUVs, and buses.
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