Hyderabad, Mar 29 (KNN) Chinese electric vehicle (EV) manufacturer BYD is set to establish a production unit near Hyderabad, making Telangana the first Indian state to host a BYD factory.
According to a report by ETV Bharat, extensive discussions between BYD and the state government have led to this decision, with Telangana offering full support, including land allocation.
The Telangana government has suggested three potential sites for the facility, all near Hyderabad. BYD representatives are currently evaluating these locations before making a final decision.
Once confirmed, an agreement will be signed with state authorities, marking a significant milestone in India’s EV sector.
Despite its presence in India for several years, BYD has yet to establish a manufacturing facility. Currently, it imports EVs from China, resulting in high import duties that raise prices and limit market penetration.
A local factory will significantly reduce costs, boost sales, and enhance BYD’s competitiveness in India’s EV market.
In 2023, the Indian government rejected a USD 1 billion investment proposal from BYD and Hyderabad-based Megha Engineering and Infrastructures Ltd (MEIL) for an EV manufacturing plant. However, with recent policy adjustments easing restrictions, BYD is moving forward with its expansion plans.
The company also maintains a technical partnership with Olectra Greentech, a subsidiary of MEIL, which manufactures and supplies electric buses across India using BYD technology.
BYD is also planning a 20-gigawatt battery manufacturing plant in India and aims to produce 600,000 EVs annually within the next five to seven years.
With innovative technology like a 1 MW flash charger enabling full charges in 5-8 minutes, BYD is poised to revolutionize India’s EV market.
(KNN Bureau)
