The Andhra Pradesh government has asked Kinetic Green, which has signed a deal with Tonino Lamborghini, for a detailed project report (DPR) to be submitted.

Andhra Pradesh IT Minister Mekapati Goutham Reddy in a brick red shirt in an online meetingFB/MekapatiGouthamReddy
news Investment Wednesday, October 28, 2020 - 14:05

Luxury lifestyle accessories brand Tonino Lamborghini may soon be involved in the manufacturing of certain vehicles in Andhra Pradesh, after electronic vehicle manufacturer Kinetic Green, with which the former had signed a deal, is looking to set up a manufacturing facility in Andhra Pradesh. Kinetic Green has submitted an Expression of Interest (EOI) to the Andhra Pradesh government. Kinetic Green Energy & Power Solutions is part of the Pune-based Kinetic Group. 

Speaking to TNM, Andhra Pradesh Information Technology (IT) and Industries Minister Mekapati Goutham Reddy said, “There is a proposal lying with us from Kinetic and we are pursuing it. They have to come back to the government with a Detailed Project Report (DPR).”

In February 2018, the Kinetic group had announced setting up a joint venture with Tonino Lamborghini in India for design and manufacture of premium segment golf carts and other electric off road-vehicles. The manufacturing facility for this, may now come up in a Special Economic Zone (SEZ) in Andhra Pradesh. 

It is important to note that the Tonino Lamborghini SPA is different from the automobile brand, and is run by Tonino Lamborghini, specialising in lifestyle accessories such as watches, eyewear, perfumes, sports accessories, boutique hotels, among others. Its partnership with Kinetic is aimed at manufacturing golf carts to be exported across the globe. 

Kintec had submitted an EOI to the state government, to which the latter responded positively. They have now been asked to submit the DPR.

“The DPR will have all the details. What it is, what are the investments, where would they like the plant to be, what are the facilities they need. All other details would be revealed in the DPR. The total investment being planned is Rs 1,750 crore,” Goutham Reddy added.

On Tuesday evening, Rajya Sabha MP Vijay Sai Reddy took to Twitter to announce an estimated investment of about Rs 1,750 crore. He called it a “mega investment” and said that the state is the “preferred destination for investments”. However, interestingly, the tweet was later deleted by the senior YSRCP leader.

According to the IT Minister, only by November-end, once the DPR is submitted, will there be some clarity about the investment.

Screenshot of the tweet that has now been deleted

 

READ: Jagan failed to fulfil poll promise of setting up Rs 4000 cr relief fund: Naidu

 

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