JSW Group signs MoU to set up first ultra-scale integrated manufacturing project for electric vehicles and EV batteries in Odisha

In a bid to strengthen Odisha’s position in the electric vehicle (EV) space, JSW Group has signed a Memorandum of Understanding (MoU) with the state government to set up integrated EV and EV battery manufacturing projects at Cuttack and Paradeep, a facility with Landmark move.

This historic move marks JSW Group’s strategic entry into Odisha amid competition from other states.

The electric vehicle and component manufacturing plant will be located in Cuttack, while the copper smelter and lithium refinery will be located in Paradip.

The ambitious project, with an investment of Rs 40,000 crore, will help create over 10,000 jobs for the youth, marking a significant growth in employment opportunities in the state.

The project will also stimulate job creation in ancillary and support services. It will promote the development of small, medium and micro enterprises and bring a lot of opportunities to the auto parts supply chain and service industry.

JSW Group’s commitment to upskilling the local workforce will ensure that the benefits of industrial growth are spread widely, thereby increasing the employability of the state’s youth in cutting-edge manufacturing processes.

Chief Minister Naveen Patnaik said the day marks a giant leap in the path of industrial excellence and sustainable development.

“Odisha is steadily transforming. The establishment of JSW Group’s electric vehicle manufacturing unit is a testament to the growing industrial landscape of our state. This strategic move underlines our commitment to sustainable development, thereby making Odisha a state of India Key players,” said Naveen Patnaik.

“This project will improve the livelihoods of thousands of families and contribute to the socio-economic development of our region. It will also promote the development of micro, small and medium enterprises and stimulate the development of a vibrant ancillary industry ecosystem. The project also heralds Odisha will tap into India’s growing automotive industry segment and perfectly aligns with our vision to be at the forefront of adopting green technologies, reducing carbon emissions and promoting eco-friendly mobility solutions.”

JSW Group Chairman Sajjan Jindal said JSW has chosen Odisha for its first electric vehicle unit because of its stable leadership and unparalleled support to the industry from the state government, besides its resources and skill ecosystem.

“Odisha has every potential to become a trillion-dollar economy. Our long-standing relationship with Odisha and its people forms the basis of our new venture. This project is a milestone in our journey and embodies the Commitment to national development and prosperity,” said Sajjan Jindal.

Industries Minister Shri Pratap Dev said, “Chief Minister Patnaik’s vision is on the right track. The state is entering new areas of industrial growth at an alarming rate.”

This is a strategic move to place Odisha at the forefront of electric vehicles and green technology in India. The project includes a 50 GWH electric vehicle battery plant, electric vehicles, lithium refinery, copper smelter and related parts manufacturing plant.

Kartik Pandian of Charmain 5T Initiatives and PK Jena, Principal Secretary, Industries Department were present on the occasion. Minister Hemant Sharma, senior government officials and representatives of major industry associations.