JSW Group, which holds major stake in MG Motor, has denied reports of shifting its EV project from Odisha to Maharashtra. An official at the JSW Group said that company does not plan to withdraw from its EV project worth ₹40,000 crore for which it digned a Memorandum of Understanding with the Odisha government earlier. However, recent media reports claimed that the company was considering to shift the project, which includes an EV plant and battery manufacturing facility, to Maharashtra.

In November last year, JSW Group bought stake in MG Motor India as it decided to make foray into automotive business for the first time. The duo announced a big focus on electric vehicles (EVs) in India from this year onwards with the promise of a new launch every three to six months from September onwards. MG Motor is currently India's second largest electric car manufacturer after Tata Motors with models like Windsor EV, ZS EV and Comet EV on sale. With a joint venture in place with JSW Group in India, MG Motor now plans to aggressively expand its electric vehicle portfolio in coming days to take on rivals.

In its efforts to kickstart its EV journey, the JSW Group had made an agreement with the Odisha government on February 10 this year to set up an electric vehicle and EV battery manufacturing project. The EV facility is expected to come up at Naraj in Cuttack district. Another 50 GWH EV battery plant, lithium refinery, copper smelter and related component manufacturing facility is expected to be launched at Paradip in Jagatsinghpur district.

The JSW group had on February 10, 2024, signed a memorandum of understanding with the Odisha government for establishment of an integrated electric vehicle and EV battery manufacturing project at an investment of ₹40,000 crore in the state. However, recent media reports claimed that the company has been looking at Aurangabad and Nagpur in Maharashtra for its EV and related projects.

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Amid media reports, Ranjan Nayak, Executive Vice President of corporate strategy, office of chairman and managing director said, “We are not withdrawing the EV and battery project from Odisha." Sampad Swain, Industries Minister of Odisha, also told PTI, “Though MoU was signed in February this year and the previous government had not allocated land for the JSW's project. Now, we are talking to the company to set up its plants. We are not informed regarding the shifting of the plant from Odisha. However, there is a delay in the implementation of the project."

Since buying stake in MG Motor, the JSW Group has launched the first electric vehicle in India earlier this month. The Windsor EV, which is the third electric car from the British-origin carmaker, has been launched at a starting price of ₹13.50 lakh (ex-showroom). The EV maker has also announced a unique Battery As A Service scheme which allows customers to pay for the battery cost as per the distance driven.

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