VIJAYAWADA: Human Resource Development (HRD) and IT Minister Nara Lokesh on Tuesday invited leading South Korean companies to expand their investments in Andhra Pradesh, pitching the State as a preferred destination for electric mobility, semiconductors, electronics and petrochemicals during his visit to Seoul.
In a meeting with Hyundai Mobis Executive Vice President Youngbin Kim, Vice President Hanseok Park and Jungho Seo, Lokesh invited the automotive parts major to establish an electric vehicle (EV) semiconductor hub in Andhra Pradesh. He proposed setting up an EV components and battery systems manufacturing facility near Tirupati or Anantapur, an R&D and engineering centre in Visakhapatnam, and a Centre of Excellence with IIT Tirupati to drive innovation in automotive technologies.
The minister also sought Hyundai Mobis’ support for research in autonomous driving, Advanced Driver Assistance Systems (ADAS) and smart manufacturing through the State’s RTIH initiative. He urged the company to partner in developing Anantapur as an automobile hub and organise a Tier-1 suppliers’ meet in Andhra Pradesh. Youngbin Kim said Hyundai Mobis already manufactures automotive modules and key components at Chennai and Anantapur, with Gurugram serving as its aftermarket parts hub.
Lokesh also met APACT Chief Executive Officer Seong Dong Lee and urged the semiconductor company to expand its presence in Andhra Pradesh while encouraging other global Outsourced Semiconductor Assembly and Test (OSAT) firms to invest in the State. He proposed a partnership with the Andhra Pradesh State Skill Development Corporation to develop a skilled workforce for semiconductor assembly, packaging and testing. Lee said the company’s Rs 468-crore OSAT facility in Visakhapatnam, approved under the India Semiconductor Mission, will manufacture 96 million semiconductor devices annually.
During separate meetings with LG Electronics Global CEO Lyu Jae Cheol and LG Electronics India CEO Hong Ju Jeon, Lokesh invited the company to establish an Engineering Centre or Global Capability Centre in Visakhapatnam, develop a components manufacturing ecosystem around Sri City, collaborate on IoT and robotics innovation labs, and consider a commercial chiller manufacturing facility in AP.
