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Andhra Pradesh targets $4 billion investment in EV sector

Andhra Pradesh is seeking to position itself as the ‘lighthouse state’ and attract investments to the tune of $4 billion in the electric vehicles segment over the next few years.

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Andhra Pradesh plans to expand the EV landscape at an intense pace while accelerating EV adoption and transitioning towards clean mobility.

Andhra Pradesh is seeking to position itself as the ‘lighthouse state’ and attract investments to the tune of $4 billion in the electric vehicles segment over the next few years.

As the first step in this direction, the state government is holding a day-long CEO-ministerial dialogue to frame requisite policy by eliciting views and ideas from various stakeholders.

This is the first such initiative by a state, under the World Economic Forum-Moving India network, on ‘shaping the future of mobility’, according to AP Industries and Investment Minister Gudivada Amarnath.

“This dialogue (in virtual mode) will serve as a high-level platform to explore various avenues of investments in the Electric Vehicles (EV) segment and also to support the industry leaders in developing and implementing plans and programmes to meet climate goals, including net-zero economic growth and green mobility,” Amarnath said.

He said the state was planning to expand the EV landscape at an intense pace while accelerating EV adoption and transitioning towards clean mobility.

“The primary objective of this exercise is to position Andhra Pradesh as the lighthouse state and attract investments to the tune of four USD billion. Our transition to e-mobility could be a key component in India’s drive to become carbon-neutral,” the minister said.

“Our aim is to make AP the prime destination for development and manufacture of batteries, generation, and storage of hydrogen, manufacture of EV components, battery electric vehicles and also fuel-cell EVs, besides charging equipment. This should also pave the way for sustainable transportation in the state,” Amarnath added.

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