The Andhra Pradesh Government has approved a proposal from German company Pepper Motion GmbH to set up a manufacturing unit for electric buses in Chittoor district. The project will require an investment of Rs 4,640 crore and is expected to create around 8,100 jobs.
This is one of 10 projects approved by Chief Minister YS Jagan Mohan Reddy at a meeting of the State Investment Promotion Board. In total, the approved projects have a combined investment value of Rs 19,037 crore and are expected to create around 69,565 jobs.
During the meeting, Chief Minister Reddy emphasized the need for officials to stay updated with global industrial trends and make necessary changes to the state’s industrial policy. He also highlighted the state’s commitment to transparency and ease of doing business.
While acknowledging the government’s efforts in providing speedy clearances and support to investors, Chief Minister Reddy stressed the importance of expediting licensing and clearance procedures to ensure rapid industrial growth. He also urged officials to prioritize the implementation of Memorandums of Understanding (MoUs) signed at the Visakhapatnam Global Investors Summit.
In addition to the electric bus manufacturing unit, other approved projects include an industrial park by JSW in Vizianagaram district, a unit by Sreyas Industries Ltd in Srikakulam district, an AI electronic product manufacturing unit by Substrate India Manufacturing Pvt. Ltd in Anakapalle district, and a green hydrogen and green ammonia unit by Coastal Andhra Power Ltd (Reliance Power) in Nellore District.
The Board also cleared proposals from Andhra Paper Ltd to expand its unit in East Godavari district, ATC Tires to expand its unit in Atchutapuram SEZ, Electro Steel Casting Ltd to expand its unit in Tirupati district, Sri Venkateswara Bio Tech to establish a unit in Eluru district, and Orill Food Pvt Ltd to establish a unit in Visakhapatnam district.
