JSW Group to Raise ₹1,487 Cr for EV Manufacturing Unit in Maharashtra

JSW’s new EV facility to produce 10,000 electric buses and 5,000 trucks annually, strengthening India’s push towards sustainable and green mobility solutions.

A prominent Indian conglomerate, JSW Group, plans to invest around ₹1,487 crore through a long-term loan to set up a greenfield electric vehicle (EV) manufacturing facility in Maharashtra. Reports indicate that the plant, to be established by the newly formed JSW Greentech Ltd, will span 100 acres in the Aurangabad Industrial City (AURIC) at Bidkin.

JSW Group's latest initiative strengthens its presence in the green mobility sector, supporting India's drive for sustainable transport and lower carbon emissions. The new facility is set to improve the group's existence in the fast-growing EV market, strengthening its existing automotive ventures.

The production site is set to manufacture 10,000 electric buses and 5,000 electric trucks annually, backed by an integrated EV component ecosystem. The remaining capital expenditure for the project will be financed through capital infusion from JSW Group.

Parth Jindal, a key figure in JSW Group’s leadership, stated “We are not limiting ourselves to the JV with MG. Our vision is to create a robust ecosystem for electric vehicles in India, and we are actively looking at opportunities to innovate and scale up in this space.”