JSW Group companies, JSW Energy and JSW Green Mobility, have received approval to set up manufacturing plants in Maharashtra. This decision was made by the Maharashtra government’s Cabinet Sub-Committee on Industries on July 29.
The state government approved a total investment of Rs 81,167 crore, creating 23,136 jobs. Most of this investment, 93% or Rs 75,632 crore, and 19,000 jobs will be in the Vidarbha and Marathwada regions. The investments are focused 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, which will create 5,000 jobs. JSW Green Mobility will invest Rs 27,200 crore in Auric, Chhatrapati Sambhajinagar, to manufacture electric and hybrid vehicles, chargers, and modules.
The demand for electric vehicles (EVs) is growing in India. From January to July 2024, 1.06 million EVs were sold, a 27% increase from the same period in 2023. Maharashtra is a leader in electric mobility, with 376,803 EVs sold in 2023, making up 11% of the national market. The state leads in the number of electric two-wheelers, cars, SUVs, and buses.
JSW Group, an Indian multinational conglomerate, is a leader in various sectors including steel, energy, infrastructure, and cement. Founded by Sajjan Jindal, the company has grown significantly over the years, establishing a strong presence both domestically and internationally. JSW Steel, one of its flagship companies, is among the largest steel producers in India and has a significant global footprint.
The group’s energy division, JSW Energy, focuses on power generation, transmission, and distribution, aiming to contribute to India’s energy security. JSW Infrastructure handles ports and terminals, enhancing the group’s logistics capabilities. With a commitment to sustainability and innovation, the JSW Group continues to drive growth and development across its diverse business segments, contributing significantly to the Indian economy.
