JSW Group to Invest Rs 600 Bn in FY26 in EV and Core Sectors

04 Apr 2025 CW Team

The JSW Group is set to invest Rs 600 billion in FY26, with a strategic focus on expanding both its core and emerging business segments. Of the total investment, Rs 150 billion will be directed towards its electric vehicle (EV) division, while the remaining Rs 450 billion will support the company's steel and energy operations.

As part of its push into the EV sector, JSW Greentech, the group's automotive arm, plans to establish a greenfield manufacturing facility in Aurangabad (Chhatrapati Sambhaji Nagar), Maharashtra. This new plant will focus on the production of electric trucks and buses, independent of JSW’s existing EV joint venture with MG Motor, which is backed by China’s SAIC Motor. Spanning 636 acre, the facility is projected to have an annual production capacity of 5,000 electric trucks and 10,000 electric buses.

The initial phase of the EV project will be financed through a debt of Rs 14.87 billion, with JSW Group providing the remainder of the funding as equity. The company is also in the process of securing a Chinese partner to support its EV operations, and a formal partnership announcement is expected in the near future.

Earlier in January, JSW Group signed a $ 35 billion agreement with the Maharashtra government. The deal aims to boost the state’s steel manufacturing capabilities, expand renewable energy initiatives, and promote the development of electric vehicles and lithium-ion battery production. This large-scale investment aligns with JSW’s broader vision of strengthening its presence across key growth sectors while supporting India’s transition to sustainable energy and transportation solutions.

News source: Manufacturing Today

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