Urja Global has signed a memorandum of understanding with Andhra Pradesh Economic Development Board (APEDB) for setting up a new plant to manufacture electric vehicles and lithium-ion batteries.
Under this MoU, Urja Global plans to invest ₹ 200 crore and expects to create 250 direct and over 1,000 indirect jobs. The company has shortlisted Anantapur, Nellore, and Chittoor for the unit.
The MoU was signed by J. Krishna Kishore, Chief Executive Officer of APEDB and Avinash Kumar Agarwal, Chief Financial Officer and Director of Urja Global Ltd.
Urja Global is engaged in designing, consultancy, integration, supply, installation, commissioning and maintenance of off-grid and grid connected solar power plants.
The company, through its subsidiaries, is investing in an integrated plant. It is a player in the electric mobility ecosystem and currently has products which range from lithium ion batteries, E-rickshaw batteries and automotive energy storage systems.
J. Krishna Kishore, Chief Executive Officer, Andhra Pradesh Economic Development Board said “Andhra Pradesh, as an emerging auto hub, also enjoys the optimal inflection point to transition to electric mobility. One of the critical components of the e-mobility value chain is batteries and it is strategically important for Andhra Pradesh to compete in the global market.”