With plans afoot to develop Nellore-Chittoor into an automobile sector, the state has brought out an automobile policy for companies in the sector.
The following are some of the significant investments in this sector.
1. iSuzu Motors - The Japanese utility vehicle manufacturer opened a Rs. 3,000 crore facility in Sri City.
No. of jobs to be created: 3,000
Capacity of the plant: 50,000 units a year. Will be scaled up to 1,20,000 units per year.
2. Hero MotoCorp - The two-wheeler giant will invest Rs. 800 crore in its plant at Madanaapalem of Chittoor district.
No. of jobs to be created - Under phase 1: 1,500 and under phase 2 - 3,500
Capacity of the plant: Under phase 1 - 5 lakh units per annum and Under phase 2 - 8 lakh units per annum.
3. Bharat Forge - This leading forging major is setting up an integrated auto-components hub in Nellore with an investment of about Rs. 1,200 crore.
No. of jobs to be created: 3,000.
4. Ashok Leyland - To set up a body building plant in Mallavalli Village in Krishna District with an investment of nearly Rs. 1,000 crore.