JSW Group to Raise ₹1,487 Crore for EV Manufacturing Plant in Maharashtra

JSW Group,one of India’s leading industrial conglomerates, is set to raise ₹1,487 crore through a long-term loan to establish a greenfield electric vehicle (EV) manufacturing facility in Maharashtra. The plant will be developed under the newly incorporated JSW Greentech Ltd and will be located on a 100-acre site in Aurangabad Industrial City (AURIC), Bidkin.

According to reports, the upcoming facility will have an annual production capacity of 10,000 electric buses and 5,000 electric trucks. Additionally, the plant will include the development of a supporting ecosystem for EV components. The remaining capital expenditure for the project will be funded through equity infusion from JSW Group.

This initiative marks a strategic expansion of JSW Group into the green mobility sector, aligning with India’s push towards sustainable transportation and reduced carbon emissions. The plant is expected to bolster JSW’s presence in the rapidly growing EV market and complement its existing automotive ventures.

Parth Jindal, a key leader in JSW Group, highlighted the company’s broader ambitions in the EV space, extending beyond its current joint venture (JV) with MG Motor India. Speaking about the group's vision, Jindal stated, "We are not limiting our EV strategy to our partnership with MG. Our vision is to establish a robust EV ecosystem in India, and we are actively exploring opportunities for innovation and expansion in this space."

The establishment of this EV plant in Maharashtra marks a major step in JSW’s roadmap to become a standalone player in EV manufacturing while continuing to benefit from its JV with MG Motor India.

JSW Group’s EV and battery manufacturing initiatives are part of its larger strategy to invest in green mobility. With a strong focus on sustainability and innovation, the group aims to play a pivotal role in India’s transition towards a cleaner and greener automotive future.