An agreement was signed by the Amara Raja Batteries with the Telangana state government that envisages setting up a new Lithium Ion Batteries manufacturing unit in the state.
In the presence of IT minister KTR and company director Galla Jayadev, the officials signed the agreement on Friday.
The company plans to manufacture Batteries for electric vehicles. As many 4,500 people would get employment in the company.
Company director Jayadev said Telangana is suitable for investment as the government rolled out investment friendly policies.
Minister KTR welcomed the company’s decision. Telangana has become the destination for investors in EV and battery manufacturing companies.
As promised Jayadev came up with the investment and the state government would extend all the support needed for the company.
By Gollapudi Srinivasa Rao