People Tech Enterprises Pvt Ltd has signed an agreement with the Andhra Pradesh Government to establish an electric vehicle (EV) park across an anticipated 1,200 Acres in Kurnool district. With an estimated investment of 1,800 INR-Crore, the park, aptly named Orvakal Mobility Valley, aims to nurture a thriving EV ecosystem. It promises cutting-edge infrastructure to support EV manufacturing and allied industries.
Once fully operational, the EV park is expected to draw investments worth 15 USD-Billion (13,000 INR-Crore). Moreover, it will create employment opportunities for 25,000 individuals, boosting the local economy. As the park’s anchor unit, People Tech Enterprises will invest around 300 INR-Crore in setting up an electric two-wheeler manufacturing facility.
Also Read: Haryana’s First International Convention Center
The park will catalyze the EV sector’s growth by providing essential infrastructure, including R&D centers, testing tracks, ready-to-use industrial spaces, and pre-developed plots for industries. Furthermore, the groundbreaking ceremony for both the park and the manufacturing unit is scheduled for March 2025. The first electric two-wheeler is expected to roll off the production line by December 2026.
Biltrax Construction Data is tracking 33,000+ projects on their technology platform for their clients.
Get exclusive access to upcoming projects in India with actionable insights. Furthermore, gain a competitive advantage for your products in the Indian Construction Market.
Visit www.biltrax.com or email us at contact@biltrax.com to become a subscriber and generate leads.
Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information as well as opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article, please email editor@biltrax.com.
0Discover more from Biltrax Media, A Biltrax Group venture
Subscribe to get the latest posts sent to your email.
