JSW Group will invest Rs 60,000 crore – JSW Group Will Invest Rs 60000 Crore
The JSW group controlled by billionaire Sajjan Jindal is preparing for investment of Rs 60,000 crore ($ 7 billion) in the new financial year starting today. Out of this, Rs 15,000 crore has been kept for its electric vehicle (EV) business while the remaining amount will be imposed in the main steel and energy operations.
The group’s vehicle sector company JSW Greentech Limited is going to set up a new factory in Aurangabad, Maharashtra where electric buses and trucks will be constructed. The enterprise will be independently operated from its current EV partnership with MG Motor owned by China’s Psych Motor. The group official said on the condition of anonymity, “The total investment in the EV project will exceed Rs 15,000 crore and we are actively looking for the Chinese partner and the announcement is expected soon.”
The Aurangabad plant is spread over 636 acres of land and is expected to manufacture 10,000 electric buses and 5,000 electric trucks annually. For this, the initial financial assistance will include a loan of Rs 1,487.5 crore while the remaining amount will invest as JSW Group Equity. This project of Jindal explains the group’s optimism about India’s low -developed EV market.
JSW is investing at a time when the EV industry’s leading Chinese company BYD is planning a $ 10 billion in Telangana to make an investment of $ 10 billion and American EV manufacturer Tesla is opening a dealership in Mumbai to sell its cars.
First Published – April 1, 2025 | 10:17 PM IST
