VIJAYAWADA: People Tech Enterprises Pvt Ltd, a People Tech Group company, has signed a Memorandum of Understanding (MoU) with the State government to establish a 1,200-acre Electric Vehicle Park - Orvakal Mobility Valley in Kurnool district.
The MoU was signed by TG Viswa Prasad, CEO of People Tech Group, and Saikanth Varma, CEO of Andhra Pradesh Economic Development Board, in the presence of Minister for IT and Electronics Nara Lokesh and Minister for Industries TG Bharath.
Viswa Prasad said they are proud to lead this transformative project. 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 has been exemplary, and we appreciate the government’s proactive approach,” he said.
Orvakal Mobility Valley will be developed with a total investment of Rs 1,800 crore, and aims to provide the 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 (Rs 3,000 crore) 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 crore.