SoftBank Group Corp Keen To Invest In Andhra's EV Industry

SoftBank Group Corp of Japan has evinced interest to invest in the electric vehicles industry in Andhra Pradesh, an official statement said.

This was conveyed by a delegation of Japanese multinational conglomerate during a meeting with Industries and IT Minister Mekapati Gautham Reddy here on Monday.

Details will be known after another meeting to be held within 15 days, said a state government statement.

Gautham Reddy informed the representatives about the development activities and favourable conditions for investments in the state. He said Chief Minister Y.S. Jagan Mohan Reddy is giving priority to welfare and industrial growth in the state, and the government would come out with a new industrial policy to promote industrial growth by next year.

He also explained to the delegation new initiatives like 75 per cent reservations to locals in industries and establishing skill development centres to provide free training to the unemployed youth.

The minister attended a series of meetings with various organisations. A delegation of Federation of Indian Chambers of Commerce and Industry (FICCI) also met him. ETA Electra Electronic Vehicles CEO Biju Thomas, Vishnu Group Vice Chairman Ravi Chandran, representative of Deloitte, Johnson & Johnson and PR Agencies met the minister.