People Tech inks MoU with GoAP
In a landmark development for India’s Electric Vehicle (EV) ecosystem, People Tech Enterprises Pvt. Ltd., a People Tech Group company, recently signed a Memorandum of Understanding (MoU) with the Government of Andhra Pradesh to establish a 1,200-acre Electric Vehicle Park, called the Orvakal Mobility Valley, in the Kurnool district.
As per an official release this private EV park is set to become India’s premier destination for fostering a complete EV ecosystem.
The Orvakal Mobility Valley will be developed with a total investment of Rs 1,800 crores and aims to provide state-of-the-art infrastructure for EV manufacturing and allied industries.
Once fully operational, the park is expected to attract an investment of $1.5 billion (Rs13,000 crores) and generate employment opportunities for 25,000 people.
As the anchor unit of the park, People Tech Enterprises will set up an Electric Two-Wheeler (E2W) manufacturing unit with an investment of Rs 300 crores.
The park will also catalyse the growth of the EV industry by offering essential infrastructure, including: R&D Centers, Testing Tracks, Plug-and-Play Industrial Spaces, Readymade Plots for Industries.
The MoU was signed by Mr. TG Viswa Prasad, CEO, People Tech Group, and Mr. Saikanth Varma, CEO, Andhra Pradesh Economic Development Board (APEDB), in the presence of the Honourable Minister for IT & Electronics, Mr. Lokesh Nara, and the Minister for Industries, Mr. TG Bharath. Representing People Tech Group was Mr. Bhaskar Reddy.
Speaking on the occasion, Mr. Lokesh said, “The Orvakal Mobility Valley is a significant step towards creating a thriving ecosystem for electric vehicles and demonstrates our government’s ability to enable rapid industrial growth through cutting-edge policies and seamless support.” Mr. TG Bharath, Industries Minister, remarked,
“Orvakal Mobility Valley positions Andhra Pradesh as the leader in India’s EV revolution. This park is not just an infrastructure project but a vision for the future of green mobility, creating jobs and enabling the establishment of EV-related ancillary industries.”
Mr. Prasad said, “Orvakal Mobility Valley will set the benchmark for private EV parks in the country, creating opportunities for manufacturing, innovation, and employment. The speed and efficiency of doing business in Andhra Pradesh have been exemplary, and we appreciate the government’s proactive approach.”
Mr. Bhaskar Reddy said “The ground breaking ceremony for both the park and the E2W manufacturing unit is planned for the end of March 2025. The first electric two-wheeler from our factory is expected to roll out by December 2026.
We are also in advanced talks with leading battery, display, and motor control manufacturers from Taiwan, Korea, and China for joint venture partnerships to establish their units in the park.”
The Orvakal Mobility Valley will act as a catalyst for innovation and industrial growth in Andhra Pradesh, cementing the state’s position as a leader in India’s EV ecosystem while contributing to its sustainable development goals.
