JSW Group Announces $4.81 Billion Investment in Indian Electric Vehicle Project

India's JSW Group to build electric vehicle battery and parts factory

India's steel and energy conglomerate JSW will invest 400 billion rupees (approximately $4.81 billion) in an electric vehicle manufacturing project in the state of Odisha, India, to compete in the Indian electric vehicle market with domestic and international companies.

According to a statement on January 22nd, JSW Group will invest 250 billion rupees in the first two phases of the project to build an electric vehicle battery manufacturing plant and an electric vehicle parts factory. In the third phase, the group plans to invest 150 billion rupees to establish an electric vehicle parts manufacturing park.