NEW DELHI: Billionaire Sajjan Jindal-led JSW group is not withdrawing its proposed Rs 40,000 crore electric vehicle (EV) and battery project from Odisha and not shifting the same to Maharashtra. This clarification from the JSW group came amid a report that the JSW group is planning to shift its multi-billion dollar EV and battery project from the eastern state.
“We are not withdrawing from Odisha,” said Ranjan Nayak, executive vice president of corporate strategy, office of chairman and managing director. Odisha Industries Minister Sampad Swani on Tuesday said the state government was talking to the JSW group for implementation of the EV project in the state.
In February this year, the JSW group, which now owns a stake in MG Motor India, signed a memorandum of understanding (MoU) with the Odisha government for the establishment of an integrated electric vehicle and EV battery manufacturing project at an investment of Rs 40,000 crore in the state.
The MoU was signed after the state cabinet approved a special incentive package for the group’s ambitious EV and component manufacturing projects.