NEW DELHI: Billionaire Sajjan Jindal-led JSW Group, which on Saturday signed a Rs 40,000 crore MoU with the Odisha government to set up an integrated electric vehicles (EV) and EV battery manufacturing project in the state, is looking to manufacture 1 lakh electric commercial vehicles and 3 lakh electric passenger vehicle a year from the plant.
The Group is expected to start the project by the end of this year after getting all the necessary clearances. Following this, the project is expected to be completed in the next two-three years. Analysts tracking the auto sector said this is one of the biggest investments announced ever in the Indian automobile sector by a new entrant. JSW recently entered the automobile sector by announcing a joint venture to own 35% of a newly created JV with China’s SAIC Motor (which owns MG Motor India).
