JSW Group planning to build a battery manufacturing facility with a target capacity of 50 GWh by 2030. The move comes on the heels of the group’s recent acquisition of a 35% stake in MG Motor India and is aimed at strengthening its foothold in the electric vehicle (EV) market.
The battery manufacturing project will roll out in phases, initially aiming for a capacity of 10 GWh by 2026, with plans to increase this to 50 GWh in later phases.
The ambitious initiative aligns with a Memorandum of Understanding (MoU) signed with the Odisha government in February, which commits ₹40,000 crore for the development of electric vehicle and battery manufacturing in Cuttack and Paradip.
The facility is expected to primarily supply battery cells for JSW’s electric vehicle subsidiary, JSW Green Mobility, as well as its battery storage systems division, JSW BSS. As reported by manufacturingtodayindia.com, JSW Group is currently negotiating technology partnerships with leading battery manufacturers to facilitate cell production.
