JSW arm, Maharashtra ink MoU for EVs, Energy Storage Systems

JSW Energy has announced signing the dotted lines of a pact with Maharashtra for setting up manufacturing units for electric vehicles (EV) and energy storage systems in the state. Besides signing the MoU with Gujarat government previously for EV manufacturing and associated businesses, the company has now entered into another MoU with the Maharashtra government to set up facilities for EV manufacturing and energy storage systems in Maharashtra, subject to receipt of internal corporate approvals, say reports.The company had unveiled its plans to foray into the EVs and energy storage segments in August last year and had shared plans to invest Rs 4,000 crore in the project over the next three years, reports said.