JSW signs agreement with Odisha for electric vehicle facilities
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JSW Group has signed an agreement with the Odisha government to set up electric vehicle (EV) facilities in the state, with an investment of ₹40,000 crore.
The plan includes establishing integrated Electric Vehicles and Component Manufacturing plants in Cuttack and Copper Smelter and Lithium Refinery at Paradip.
Speaking on the occasion, the Chief Minister of the State, Naveen Patnaik, said that the day marks a great leap forward in the State’s journey towards industrial excellence and sustainable development.
He said that powered by the 5T initiative (the 5T initiative in Odisha is a governance model that stands for Teamwork, Transparency, Technology, Time, and Transformation), Odisha is on a steady path of transformation and the establishment of JSW Group’s Electric Vehicle manufacturing unit is a testament to state’s evolving industrial landscape.
Also read: EU, UK extend deadline for EV makers to meet local content rules until 2026
CM added that this strategic move underscores the state’s commitment to sustainable development, positioning Odisha as a pivotal player in India.
The project comprises a 50 GWH EV battery plant, EVs, lithium refinery, copper smelter and related component manufacturing units.
“We are keenly focused on leveraging the opportunities presented by the new age sectors, aiming to create high-skill job opportunities for the people of Odisha. Through this collaboration, we are setting the stage for a future where innovation drives our industrial growth, ensuring that the youth of Odisha have access to the skills and jobs that will define the next generation of economic development,” Odisha Chief Minister Naveen Patnaik said in the statement.
JSW Group Chairman Sajjan Jindal said, “Our long-standing relationship with Odisha and its people forms the foundation of our new venture. This project is a milestone in our journey, reflecting our commitment to the state’s development and prosperity.
“It’s a testament to our belief in Odisha’s potential and our dedication to contributing positively to its economic landscape.” The project will also spur employment generation in ancillary and support services. It will catalyse MSME development, opening a plethora of opportunities in the auto component supply chain and services sector.
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