JSW Group plans to invest Rs 60,000 crore in FY26, with Rs 15,000 crore allocated to its electric vehicle (EV) business, and the remaining Rs 45,000 crore directed toward core steel and energy operations.

JSW Greentech, the conglomerate’s automotive arm, will establish a greenfield factory in Aurangabad (Chhatrapati Sambhaji Nagar) to manufacture electric buses and trucks. This facility will operate separately from JSW’s EV partnership with MG Motor, owned by China’s SAIC Motor. The plant, spanning 636 acres, aims to produce 10,000 electric buses and 5,000 electric trucks annually.

Initial funding will include Rs 1,487.5 crore in debt, with the remaining investment to be infused as equity by JSW Group, led by Sajjan Jindal. The company is actively seeking a Chinese partner for the EV project, with an official announcement expected soon. In January, JSW signed a USD 35 billion agreement with Maharashtra to expand EV and lithium-ion battery production, steel manufacturing, and renewable energy projects.

For its core businesses, JSW will invest Rs 25,000 crore in its steel segment and Rs 15,000 crore in energy. JSW Neo Energy is set to complete the Rs 12,468 crore acquisition of O2 Power in FY26, while KSK Energy, acquired last year for Rs 16,000 crore, is being integrated into the company’s portfolio.