JSW Group is making a decisive move into battery manufacturing. The company plans to reach 50 GWh in production capacity by 2028-2030. The company is adopting a phased approach. They target an initial 10 GWh by 2026. This is to support the growing demand for electric vehicle (EV) batteries and other energy storage solutions. This initiative is set to be a key pillar in India’s transition toward green energy and EV adoption.

Strategic Partnership with Odisha Government

JSW has signed a Memorandum of Understanding (MoU) with the Odisha government. The agreement is to establish an EV and battery manufacturing plant in Cuttack and Paradip. This massive Rs 40,000 crore investment aims to boost the local economy. It also positions Odisha as a major hub for India’s EV infrastructure. The facility will primarily produce battery cells for JSW’s in-house consumption across EVs and energy storage programs.

Technology Tie-Ups for Advanced Manufacturing

JSW aims for cutting-edge production. To achieve this, they are negotiating partnerships with leading global battery manufacturers. They seek a technology collaboration in cell and battery production. This aligns with India’s emphasis on advanced chemistry cell (ACC) manufacturing. The government’s production-linked incentive (PLI) scheme supports this initiative. It targets a cumulative 50 GWh battery production capacity.

Boosting India’s EV Adoption

Battery costs account for approximately 40% of an EV’s price. Therefore, localized production is critical to making EVs more affordable in India. Reducing reliance on imports can stabilize prices. It can support the adoption of EVs. This approach brings India closer to its sustainable energy targets.

Growing Competition in India’s Battery Manufacturing Sector

JSW Group joins an impressive roster of companies. This includes Ola Electric, Reliance Industries, Amara Raja, Exide Industries, GODI India, and Rajesh Exports. All are setting up giga factories across India. Reliance Industries is notably on track to launch its Gigafactory in the latter half of 2025. The facility is projected to have a 30 GWh annual capacity. This move further reinforces India’s EV ecosystem.

Festive Offerings by Citroën and Jeep

Meanwhile, Citroën and Jeep are celebrating the festive season with exclusive offers, discounts, and services to enhance customer experiences. These festive campaigns run from October 1 to October 31, 2024. They offer prospective car buyers a range of benefits. It’s an exciting time to explore new driving options.

India’s Future in Battery Manufacturing

India is ramping up its domestic battery production. The establishment of giga factories is underway. The government’s PLI scheme is also in play. These initiatives are poised to transform the country into a powerhouse for EV battery production. JSW Group’s ambitious plans showcase the country’s dedication to achieving energy self-reliance. Their strategic partnerships also solidify its position in the global EV market.

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