JSW Group To Sign MoU With Odisha Today For Setting Up World’s Largest Single-Location Electric Vehicle And Battery Plant

Bhubaneswar: The JSW Group will sign a Memorandum of Understanding with the Government of Odisha today for setting up an Integrated Electric Vehicles (EV) and EV Battery Manufacturing Project in the State. It will be the world’s largest Single-Location Electric Vehicle and EV Battery Plant. The JSW Group has committed an investment of Rs 40,000 Crore for establishing a state-of-the-art electric vehicle (EV) battery manufacturing project at Naraj in Cuttack district and other projects in Jagatsinghpur district. With a capacity of 50 GWH, this project will be the world’s largest single-location initiative in the electric vehicle sector.

The Odisha Cabinet headed by Chief Minister Naveen Patnaik had approved the special incentive package for the JSW Group’s ambitious EV and component manufacturing projects at Naraj in Cuttack, and Paradip in Jagatsinghpur district during its meeting held on the 22nd January 2024. These projects, with a combined investment of over Rs 40,000 crore and employment potential of over 11,000, are set to usher in a new era of industrial growth and job creation in the state, the Chief Secretary had said after the approval of the Cabinet. The Group will also establish an EV components manufacturing complex, including a copper smelter and lithium smelter, at Paradip in the third phase of its expansion.