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JSW plans an investment of Rs. 4000 crore in Gujarat for manufacturing EV

JSW plans an investment of Rs. 4000 crore in Gujarat for manufacturing EV
Abhishek Nigam Abhishek Nigam Wednesday 27 September 2017, 13:58 PM

 JSW Energy Ltd, a division of the Jindal Group inks MoU with Gujarat. With automobiles heading for an electric future being a certainty, steps are already being taken to gear up for it. JSW Energy Ltd, a division of the Jindal Group, will invest nearly Rs.4,000 crore for setting up a manufacturing facility to make electric vehicles in Gujarat.

The plant, to be set up at Vanod near Dasada in Surendranagar district, will also manufacture electric batteries, electrical storage solutions and charging infrastructure. The facility is expected to generate 2,000 direct and 4,000 indirect jobs.

JSW has set an ambitious target of launching its own electric vehicle by 2020. While the company realises that it is venturing in a very competitive space, JSW bets on the growth of automobile industry, as well as level-playing field created due to disruption by electric vehicle technology.

The government is already in talks about making all cars in India electric by 2030 and will help facilitate the electric car effort by offering subsidies for a couple of years. Looks like the electric future will be here sooner than we think.

 

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