The JSW Group, led by billionaire Sajjan Jindal, has signed a monumental Rs 40,000 crore MoU with the Odisha government to establish a state-of-the-art integrated electric vehicle (EV) and EV battery manufacturing project. The ambitious plan aims to manufacture 1 lakh electric commercial vehicles and 3 lakh electric passenger vehicles annually. While JSW’s foray into the automobile sector involves a challenging task of establishing itself amidst fierce competition, the investment signifies one of the largest in the Indian automobile sector by a new entrant. The project is expected to commence by the end of the year and be completed within the next two to three years, pending necessary clearances.