The state government of Maharashtra has given permission to JSW Energy and JSW Green Mobility, two businesses of the JSW Group, to open manufacturing facilities there. The Maharashtra government approved seven new investment proposals on July 29, including these projects.
A significant investment of Rs 81,167 crore was approved by the Cabinet Sub-Committee on Industries in Maharashtra. This investment is anticipated to create 23,136 job opportunities in the state. 19,000 new job opportunities and a sizeable chunk of this investment—Rs 75,632 crore—are earmarked for the regions of Vidarbha and Marathwada. Green energy, green transportation, and semiconductor manufacturing are among the industries in which these investments are concentrated.
In particular, JSW Energy intends to invest Rs 25,000 crore to build a manufacturing facility in Nagpur for lithium-ion batteries, which is expected to generate 5,000 employment. In the meantime, JSW Green Mobility plans to invest Rs 27,200 crore in Auric, Chhatrapati Sambhajinagar to produce chargers and modules for electric and hybrid cars.
In India, the market for electric vehicles, or EVs, has been steadily growing. Sales of electric vehicles (EVs) in India surged by 27% in the first seven months of CY2024 compared to 840,115 units sold from January to July of 2023.
Maharashtra is starting to take the lead in the transition to electric vehicles. With 376,803 EVs owned in CY2023, the state took second place in India overall, accounting for 11% of the market. Maharashtra is at the forefront of the electric vehicle revolution as it also leads the country in the adoption of electric buses, SUVs, vehicles, and two-wheelers.
