People Tech Enterprises Pvt Ltd inked an agreement with the Andhra Pradesh government to set up a 1,200-acre electric vehicle (EV) park in Kurnool district, with an investment of Rs 1,800 crore.

Dubbed as Orvakal Mobility Valley, the park aims to foster a complete EV ecosystem, providing 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 13,000 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 manufacturing unit with an investment of Rs 300 crore,” said a press release.

The park aims to catalyse EV industry growth by offering essential infrastructure such as R&D centres, testing tracks, plug and play industrial spaces and readymade plots for industries.

The deal was struck in the presence of IT Minister Nara Lokesh and Industries Minister TG Bharath.

“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,” said Lokesh.