JSW Group Set to Disrupt the EV Market With New Energy Vehicles

JSW Group has launched a new automotive vertical called JSW Motors. As per news reports, the division will focus on new energy vehicles and operate independently from its joint venture with SAIC, JSW MG Motor India. Vehicle launches under this brand are expected to begin in the second half of FY26.

$3 Billion Planned Investment

The company plans to invest up to $3 billion over the next 5 years to develop and manufacture electric passenger vehicles. All vehicles will be produced in India, with manufacturing, R&D, and facility development currently underway.

EV Hub in Odisha

JSW has signed a ₹40,000 crore MoU with the Odisha government to build an EV and green energy ecosystem. The project includes a plant to produce 3 lakh passenger EVs and 1 lakh commercial EVs annually, a 50 GWh battery facility, a 6,000-tonne lithium refinery, and a copper smelter.

Manufacturing Facility in Maharashtra

In Aurangabad Industrial City (AURIC), Maharashtra, JSW is investing ₹27,200 crore to build its main EV manufacturing hub. The 630-acre facility in Bidkin will house production for both passenger and commercial vehicles and is expected to create over 5,200 jobs.

Joint Venture 

Through JSW MG Motor India, the company plans to scale annual production from 1 lakh to 3 lakh units. New vehicle launches are expected every 3-6 months starting late 2024. JSW is also increasing its stake in the JV to 84% as SAIC reduces its share.

Read more: JSW Energy Allots ₹250 Crore Worth of NCDs via Private Placement!

Talks with Global Partners

As per Economic Times report, JSW Motors is in discussions with companies from Italy, Germany, South Korea, and China to support vehicle design and technology development. These partnerships are aimed at developing models to be sold under the JSW brand.

The group is also planning a joint venture with LG Energy Solution to build a 10 GWh battery plant by 2026. Around 70% of output will be used internally, and the rest will be supplied to other EV manufacturers.

Conclusion

JSW Group is building a full-scale EV ecosystem with large-scale investments across states, aiming to enter both consumer and commercial segments by FY26.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.