Vijayawada: Andhra Pradesh Economic Development Board (APEDB) and Urja Global on Thursday signed a Memorandum of Understanding (MoU) for setting up a new plant to manufactu-re high technology Lithiumion batteries and electric vehicles for the electric mobility ecosystem.
Through this MoU, Urja Global will invest Rs 200 crore and create 250 direct and over 1,000 indirect sk-ill-based sustainable jobs in the state. They have shortlisted Anantapur, Nellore, and Chittoor for establishing their unit in Andhra Pradesh.
The MoU was signed by APEDB CEO, J. Krishna Kishore, and Urja Global Limited, chief financial officer and director Avinash Kumar Agarwal.
Urja Global is engaged in designing, consultancy, integration, supply, installation, commissioning & maintenance of off-grid and grid connected solar power plants. The investor, through its subsidiaries, is investing in an integrated plant for the manufacture of electric vehicles & lithium-ion batteries and will also be involved in the skilling of personnel.
Mr Krishna Kishore, said, “Andhra Pradesh as an emerging auto hub also enjoys the optimal inflection point to transition to electric mobility. One of the critical components of the e-mobility value chain is batteries and it is strategically important for Andhra Pradesh to compete in the global market. This investment from Urja Global is a testimony to Andhra Pradesh taking a proactive approach to attract forward and backward value chains in electric mobility. This is the AP approach led by Chief Minister N. Chandrababu Naidu in attracting investments in sunrise sectors such as mobility and deep-tech.”
Andhra Pradesh is bui-lding a Silicon Corridor to catalyse investments in manufacturing owing to robust infrastructure for connectivity, enabling policies, integration with global value chains and a skilled and ready workforce.
A dedicated team at EDB works on the development of emerging technology ecosystems including electric mobility.
The company is also a major player in the electric mobility ecosystem and currently has products which range from Lithium Ion Batteries, E-Rickshaws Batter-ies, and Automotive energy storage systems.
