Hyderabad: Hyderabad is emerging as a key location for electric vehicle (EV) manufacturing, with reports indicating that Chinese company BYD is considering a $10 billion investment in the region.
According to thephilox.com, BYD plans to set up a production base near Telangana’s capital, a move that could expand India’s EV industry.
BYD is growing in the global EV market. The company reported $107 billion in revenue for 2024, higher than Tesla’s $97.7 billion. BYD also delivered 4.27 million vehicles, including electric and hybrid models, compared to Tesla’s 1.79 million battery-powered vehicles.
Local sources, including Eenadu, report that the Telangana government has suggested multiple locations around Hyderabad for BYD’s facility. MEIL group company Olectra Greentech is already producing electric buses using BYD technology, indicating an existing connection.
On August 29, 2024, BRS working president K.T. Rama Rao stated on X (formerly Twitter) that the Union Government had rejected BYD’s earlier proposal for a factory in Telangana. This adds context to the current discussions.
If BYD moves forward with this project, it could create jobs, introduce new technology, and strengthen India’s EV sector. This expansion could also improve India’s standing in the global market while supporting cleaner energy solutions.
The Telangana government has significantly boosted its commitment to electric vehicle (EV) adoption by implementing a new EV policy that includes substantial incentives. A key feature of this policy is the 100 per cent exemption of road tax and registration fees for all categories of electric vehicles. This initiative, valid until December 31, 2026, aims to accelerate the transition to sustainable transportation within the state.
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