Lokesh seeks investment in EVs, semiconductors from Korean giants for Andhra Pradesh

Andhra Pradesh Education, Information Technology and Electronics Minister Nara Lokesh met Hyundai Mobis executives Youngbin Kim, Hanseok Park and Jungho Seo in Seoul on Tuesday. | Photo credit: Special arrangement

Andhra Pradesh Education, Information Technology and Electronics Minister Nara Lokesh on Tuesday (July 7, 2026) stepped up state investment drives in South Korea, holding a series of meetings with leading technology and electronics companies to attract investment in electric vehicles, semiconductors and advanced manufacturing.

In a meeting with Hyundai Mobis executives, Mr. Lokesh invited the automotive technology company to set up an EV semiconductor hub in Andhra Pradesh along with an EV component and battery manufacturing unit near Tirupati or Anantapur. He also designed a research and engineering center at Visakhapatnam and a center of excellence with IIT Tirupati.

#ChooseSpeedChooseAP
South Korean manufacturer of automotive modules, components, electrification equipment Hyundai Mobis Executive Vice President Youngbin Kim (Mr. Youngbin KIM), Vice President Hanseok Park (Mr. Hanseok PARK), Jungho Seo (Mr. Jungho… pic.twitter.com/nraGxrasOH

— Lokesh Nara (@naralokesh) July 7, 2026

The minister asked the company for research support in autonomous driving, advanced driver assistance systems (ADAS) and smart manufacturing and urged it to partner with the state in making Anantapur a major hub for automobile manufacturing. Hyundai Mobis management said the company will study the proposals before making a decision on future investments.

Mr. Lokesh also met APACT CEO Seong Dong Lee to discuss strengthening Andhra Pradesh’s semiconductor ecosystem. He asked APACT to collaborate with the Andhra Pradesh State Skill Development Corporation to train youth in semiconductor assembly, packaging and testing (OSAT) and to encourage other global OSAT players, including Hana Micron, to consider investing in the state. Mr Lee said the company’s Visakhapatnam OSAT project, which is being built with ASIP Technologies with an investment of ₹468 crore, would produce 96 million semiconductor devices annually and construction is expected to start soon.

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I met Mr. Taehyung Lee, Vice President of Seoul Semiconductors in Seoul. I explained that AP has attracted 25 percent of total investment in India in 2026 and $240 billion in the last 24 months. Recently India Semiconductors Mission… pic.twitter.com/EDCwwqH243

— Lokesh Nara (@naralokesh) July 6, 2026

In another meeting, Mr. Lokesh urged LG Electronics to set up a technical center or Global Capability Center (GCC) in Visakhapatnam and expand its operations in India. He also proposed a component manufacturing ecosystem around Sri City and sought collaboration in IoT and robotics research, besides a commercial chiller manufacturing unit in the state.

LG Electronics India CEO Hong Ju Jeon said the company is investing ₹5,000 crore in its third Indian manufacturing facility in Sri City, where commercial production is expected to begin by the end of the year. The plant is expected to create about 1,500 jobs and manufacture air conditioning compressors, refrigerators, washing machines and air conditioners. He said the LG will study the latest proposals of the Andhra Pradesh government.

Published – July 7, 2026 12:55 PM IST