The State has invited Hyundai Mobis, APACT and LG Electronics to invest in semiconductor manufacturing, EV components and advanced electronics.
Andhra Pradesh is stepping up efforts to position itself as a manufacturing and technology hub by seeking fresh investments from South Korean companies across the electric vehicle (EV), semiconductor and electronics sectors.
During a visit to South Korea, Andhra Pradesh Minister for Education, Information Technology and Electronics Nara Lokesh held meetings with senior executives of several technology firms to showcase investment opportunities in the State.
In discussions with Hyundai Mobis, Lokesh proposed the establishment of an EV semiconductor hub in Andhra Pradesh, along with EV component and battery systems manufacturing facilities near Tirupati or Anantapur. He also invited the company to set up a research and engineering centre in Visakhapatnam and collaborate with IIT Tirupati to establish a Centre of Excellence. The minister further sought cooperation in autonomous driving, Advanced Driver Assistance Systems (ADAS) and smart manufacturing, while pitching Anantapur as a future automobile manufacturing hub. Hyundai Mobis said it would evaluate the proposals before taking a decision.
Lokesh also met Seong Dong Lee, CEO of APACT, to discuss strengthening the State’s semiconductor ecosystem. He proposed partnering with the Andhra Pradesh State Skill Development Corporation to train youth in outsourced semiconductor assembly and testing (OSAT) and encouraged more global OSAT companies, including Hana Micron, to invest in the State. APACT said its ₹468-crore OSAT facility in Visakhapatnam, being developed with ASIP Technologies, will have the capacity to produce 96 million semiconductor devices annually once operational.
In a separate meeting, Lokesh invited LG Electronics to establish an engineering centre or Global Capability Centre (GCC) in Visakhapatnam and expand its manufacturing footprint in Andhra Pradesh. He also proposed developing an electronics component ecosystem around Sri City and collaboration in IoT, robotics and commercial chiller manufacturing.
LG Electronics India Managing Director Hong Ju Jeon said the company is investing ₹5,000 crore in its third manufacturing plant in India at Sri City. The facility, expected to begin commercial production by the end of the year, will manufacture air conditioners, compressors, refrigerators and washing machines while generating around 1,500 jobs. The company said it would study the State government’s latest proposals before making further investment decisions.
