Industries Minister Gudivada Amarnath has asserted that Andhra Pradesh has a vibrant automobile and auto component ecosystem which the prospective investors should explore without fail.
Mr. Amarnath was addressing a virtual CEO-Ministerial dialogue organised by the State Government in collaboration with the World Economic Forum (WEF) on the theme, ‘Shaping the Future of Mobility’, on Friday.
State’s vision
“Andhra Pradesh has an investment potential of $4 billion in the electric mobility sector waiting to be tapped,” the Minister said.
He further said that the government envisaged transforming Andhra Pradesh into a preferred destination for manufacturing of batteries, fuel cells, hydrogen generation and storage stations, Electric Vehicles (EVs), and EV components and charging equipment.
In tune with this vision, the government rolled out the Electric Mobility Policy 2018-23 (EMP) to become a leading global investment destination in electric mobility by the year 2050, he observed.
Mr. Amarnath said the EMP aimed at supporting every aspect of electric mobility and accelerating the adoption of electric vehicles, which would eventually lead to a sustainable and healthier climate.
He said the policy would act as a catalyst to encourage enthusiastic EV players to set up their factories and operations in Andhra Pradesh, which had distinct advantages compared to other States.
He stated that the success of Tesla was a “jolt” to the global auto industry, and that India was keen on delivering world-class, affordable, and efficient EVs from its plants.
The foray of Kia Motors into Andhra Pradesh was a welcome development, he added.
The Minister said that Andhra Pradesh had always been an industry-friendly State, which believed in sustainable and pollution-free industrial transformation, where communities get to share the benefits of industrialisation through local employment, improved connectivity, and improved living standards.
Citing the unique features of the State, the Minister invited the prospective investors to tap the opportunities, while assuring them of all support from the State government.
Special Chief Secretary (Energy) K. Vijayanand, Principal Secretary (Transport) M.T. Krishna Babu, Director of Industries G. Srijana, and A.P. Economic Development Board CEO J.V.N. Subramanyam were among others who took part in the deliberations.
