business ๐ญ JSW battery plant delay shows big LFP hurdle for India
JSW Group has paused its planned battery manufacturing facility in Odisha while searching for an LFP technology partner. This project was meant to be a Rs 40,000 Crore venture under an MoU with the Odisha government starting in February 2024. Currently, India imports about 75% of its EV batteries from China, and domestic cell capacity is low compared to pack assembly. This bottleneck is a structural issue, risking a massive rise in import bills by FY2030. The industry must close this LFP cell technology gap before future domestic mandates cause shortages. ๐