CM Naidu invites VinFast to set up EV, battery manufacturing plants in Andhra Pradesh
Jul 10, 2024
Amaravati (Andhra Pradesh) [India], July 10 : Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday met VinFast Chief Executive Officer (CEO) Pham Sanh Chau and had an engaging discussion session with him.
He invited his company to set up electrical vehicles and battery manufacturing plants in Andhra Pradesh.
VinFast is a leading automobile conglomerate from Vietnam.
CM Naidu has also ordered the Industries department to facilitate their visit to suitable land parcels.
CM Naidu informed about his meeting through a microblogging site X and wrote, "Had an engaging discussion with the CEO of VinFast Mr Pham Sanh Chau. VinFast is a leading automobile conglomerate from Vietnam. Have invited them to set up their EV and battery manufacturing plant in Andhra Pradesh. The industries department has been instructed to facilitate their visit to suitable land parcels. Looking forward to a successful collaboration."
https://x.com/ncbn/status/1811011350883446887
Earlier on Tuesday, the newly-formed Andhra Pradesh government under Chief Minister Chandrababu Naidu floated a whitepaper around its power sector where it discussed its status and raised allegations against its predecessor government under Jagan Mohan Reddy.
As per the whitepaper, there was a phenomenal increase in the power tariff burden among consumers, the debt of state power utilities increased, and there were losses due to inefficient governance.
Total loans of Andhra Pradesh power utilities increased from Rs 62,826 crore in 2018-19 to Rs 112,422 crore in 2023-24, with an increase of Rs 49,596 crore or a 79 per cent increase.
"The Andhra Pradesh power sector needs three new reforms. I have never seen such destruction of the state in my political career, even though this is my fourth term. We are committed to development and are handling these burdens. We will come up with strategies to resolve all these issues. We are committed to providing uninterrupted electricity supply," the chief minister said, releasing the whitepaper.
"We are committed to providing uninterrupted electricity supply. The quality of electricity should be maintained without hiking true-up charges. I have to go through the agreements done by the previous government. Andhra Pradesh is one of the states to go with green hydrogen," the CM added.
