Mumbai, March 12 Logistics and sustainable infrastructure firm Cargo Matters announced on Thursday that it will invest ₹100 crore to set up an EV manufacturing and charging hub in Andhra Pradesh under a memorandum of understanding signed with the state government.
The facility is envisioned as a multi-functional ecosystem, featuring a dedicated manufacturing block for charger production, a specialized retrofit facility for heavy vehicle electrification, and a robust R&D unit for validation and certification, the company said.
"Our Madanapalle facility will provide fleet owners with a cost-effective pathway to electrification through advanced retrofitting and dedicated heavy-duty charging networks," said Umesh Padala, Founder & Chairman, Cargo Matters.
The company has committed ₹100 crore to establish India's first integrated green freight hub in the state, adding that ₹50 crore of the total investment is specifically earmarked for charging infrastructure to support regional heavy-duty electric corridors.
Cargo Matters also said it has already submitted a Detailed Project Report (DPR) to the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) for the allocation of 18 acres of industrial land in Madanapalle, Andhra Pradesh, for this purpose.
The project is designed to accelerate India's "Green Freight" transformation through the electrification of Heavy Commercial Vehicles (HCVs), it said.
"The project aligns with the Andhra Pradesh Sustainable Electric Mobility Policy 4.0 (2024-2029) and strengthens our 'Green Freight' vision," said PN Mahesh, Director, APIIC.
The initiative will generate nearly 1,000 direct and 3,000 indirect jobs, creating meaningful opportunities for the region's youth, Mahesh added.