JSW Group to set up nearly $5 billion in EV projects in eastern India By Reuters
2024-02-10 19:20:05
more 
1495

NEW DELHI (Reuters) - India's JSW Group will set up electric vehicles and battery manufacturing projects in the country's eastern state of Odisha at a cost of 400 billion rupees ($4.82 billion).

The company and the state government have signed a memorandum of understanding "for the establishment of an Integrated Electric Vehicles (EV) And EV Battery Manufacturing Project" in two cities, they said in a joint statement on Saturday.

The Indian cement to energy conglomerate JSW Group had formed a joint venture in India with China's SAIC Motor in November, with a focus on green mobility and developing the electric vehicle ecosystem.

Through its phased projects in Odisha, JSW Group will take on both domestic and international players in India's EV market.

Electric models made up around 2% of India's car sales last year, with (NYSE:) dominating the market, but the government is targeting a 30% share by 2023.

($1 = 83.0000 Indian rupees)

Statement:
The content of this article does not represent the views of fxgecko website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!

Related News

您正在访问的是FxGecko网站。 FxGecko互联网及其移动端产品是中国香港特别行政区成立的Hitorank Co.,LIMITED旗下运营和管理的一款面向全球发行的企业资讯査询工具。

您的IP为 中国大陆地区,抱歉的通知您,不能为您提供查询服务,还请谅解。请遵守当地地法律。