JSW Energy Ltd to set up country’s first electric car unit in Gujarat: to cost Rs 4000 cr

Gujarat is expected to set up country’s first unit for manufacturing electric cars. On Tuesday, a Memorandum of Understanding (MoU) was signed between JSW Energy Ltd and the Gujarat government to set up a Rs 4000 unit for manufacturing electric cars on Tuesday.

The manufacturing unit is expected to be set up at Vanod village near Dasada in Surendranagar district of Gujarat. “This MoU is for setting up an electric car unit in Gujarat. This will be first such unit to be set up in the country. This is an eco-friendly project,” said MK Das, Principal Secretary to Gujarat Chief minister who was present on occasion.

Gujarat already has three large car manufacturers including Ford Motors, Maruti Suzuki and Tata Motors. China’s SAIC Motors is in the process of setting up a car manufacturing plant at Kalol near Vadodara. When asked if the JSW Energy, that is part of the OP Jindal Group, will be entering into a joint-venture agreement to set up the electric-car unit, Das told The Indian Express, “I will not be able to comment. It is an internal matter of the company.”

The MoU signed with the company involves setting up of infrastructure for recharging, producing electrical batteries and energy storage solutions, a state government release stated here. The MoU was signed in presence of Gujarat chief minister Vijay Rupani and CEO of JSW Energy Limited Prashant Jain.

Source- The Indian Express