JSW Bets Big on EVs & Core with Massive ₹60,000 Crore Investment

JSW Group is set to invest a total of Rs 60,000 crore in FY26, with Rs 15,000 crore earmarked for its electric vehicle (EV) division and the remaining Rs 45,000 crore allocated to its core steel and energy operations.

JSW Greentech, the group’s automotive arm, will establish a greenfield facility in Aurangabad (Chhatrapati Sambhaji Nagar) dedicated to manufacturing electric buses and trucks. This new plant, separate from JSW's existing EV partnership with MG Motor (a subsidiary of China’s SAIC Motor), will span 636 acres and is projected to produce 10,000 electric buses and 5,000 electric trucks annually.

The initial funding for the facility will include Rs 1,487.5 crore in debt, with the rest being injected as equity by JSW Group under the leadership of Sajjan Jindal. The company is actively pursuing a Chinese partner for the EV initiative, with an official announcement expected in the near future. In January, JSW signed a USD 35 billion deal with Maharashtra to expand its ventures in EV and lithium-ion battery production, steel manufacturing, and renewable energy projects.

For its core businesses, JSW plans to invest Rs 25,000 crore in its steel segment and Rs 15,000 crore in energy. JSW Neo Energy is also set to complete the Rs 12,468 crore acquisition of O2 Power in FY26, while the integration of KSK Energy, acquired for Rs 16,000 crore last year, is already underway.

News by Rahul Yelligetti.