AP Govt inks pact worth Rs 1750 crore with Electric Vehicle firm

Amravati: The Andhra Pradesh government today entered into an agreement with Kinetic Green Energy & Power Solution Ltd to set up manufacture electric two-wheelers, three-wheelers, advanced technology battery manufacturing and battery swapping stations in the state.

Kinetic Green Energy & Power Solution Ltd CEO Sulajja Firodia Motwani and co-founder Ritesh Mantri met AP chief minister Y. S. Jagan Mohan Reddy to deliberate over the setting up advanced technology battery manufacturing, battery swapping stations. said a press release from the chief minister’s office.

The estimated cost of setting up the plants has been quoted at Rs 1,750 crore, and the firm has shown a keen interest in setting up manufacturing units for branded and premium electric vehicles at Vishakapatnam, along with skill development and training center. The EV firm has already set up a plant with the capacity of producing 6,000 vehicles at Ahmed Nagar close to Pune.

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Kinetic Green Energy & Power Solutions limited is an EV firm that aims to create well-engineered yet economical models suitable for these evolving market segments. The venture concentrates on manufacturing Electronic Vehicles, including battery-operated autos, carts, and buggies among others.

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