The company has expressed interest to set up branded premium electric vehicles manufacturing unit in Visakhapatnam
Pune-based electric vehicle firm Kinetic Green Energy has proposed to invest Rs 1,750 crore to set up EV and EV infrastructure manufacturing facilities in Andhra Pradesh.
The company’s Chief Executive Sulajja Firodia Motwani met Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy and discussed the company’s investment plans.
Motwani and Kinetic co-founder Ritesh Mantri discussed their plans with the Chief Minister, a CMO release said.
The release said Kinetic came forward to setup electric two-wheelers, three-wheelers, advanced technology battery manufacturing and battery swapping stations in at an estimated cost of Rs 1,750 crore.
It has expressed interest to set up branded premium electric vehicles manufacturing unit in Visakhapatnam. The company would also setup a skill development and research centre, the release added.
The firm had already established an electric vehicle manufacturing unit with a production capacity of 6,000 vehicles at Ahmed Nagar in Maharashtra.
Earlier this year, Andhra Pradesh had announced that it will set up 400 charging stations in 73 locations across the state.
Vijayawada, Visakhapatnam, and Tirupati will be declared model electric mobility cities with phase-wise goals to adopt electric vehicles, charging infrastructure, and new EV enabling building codes.