AP aspires to attract $4 billion investment in Electric Vehicle segment

The Andhra Pradesh (AP) State Government has organised a day-long CEO-Ministerial dialogue on Friday. In line with its intention to make AP a Lighthouse state and attract investments to the tune of $4 billion towards the electric vehicles segment over the next four years, this high-level meeting is its first step. It may be recalled that last year, the state government announced to set up 1 lakh EV charging stations across the state in the next 10 years.  

According to AP Industries Minister Gudivada Amarnath, this is the first time the state has taken up such an initiative, under the aegis of the World Economic Forum-Moving India network, on Shaping the Future of Mobility. The virtual mode meeting has been set up to make AP a prime destination for the development and manufacturing of batteries, EV components, and charging equipment, including battery EVs and fuel-cell Evs.

The minister while addressing the media said that this step would pave the way for sustainable transportation in the state. He added that through this virtual dialogue, they aim to explore various avenues of investment in the Electric Vehicle (EV) segment. With the ultimate aim of meeting the climate goals, the Minister said that they propose to support industry leaders in developing and implementing necessary plans and programs.  

The state government’s primary objective is to position AP as a lighthouse state in order to attract investments in the electric vehicles segment and move toward India’s drive to become carbon-neutral.

The virtual meet will be attended by Special Chief Secretary of Energy K Vijayanand, Principal Secretary of Transport MT Krishna Babu, NITI Ayog Advisor of Infrastructure Connectivity, Transport and Mobility Sudhendu J Sinha, CEO APEDB, and VC Subramanyam Javvadi, Director of Industries Srijana Gummala, and Minister Amarnath Gudivada himself.  

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