Hyderabad: The city is rapidly emerging as a key hub for electric vehicle (EV) manufacturing, with reports suggesting that Chinese automaker BYD is considering a $10 billion investment in the region. According to ThePhilox.com, BYD plans to establish a production facility near Telangana’s capital, a move poised to accelerate India’s EV sector.
BYD continues to expand its presence in the global EV market, reporting $107 billion in revenue for 2024—surpassing Tesla’s $97.7 billion. The company also outpaced Tesla in vehicle deliveries, with 4.27 million electric and hybrid units sold, compared to Tesla’s 1.79 million battery-powered vehicles.
Local sources, including Eenadu, report that the Telangana government has proposed multiple locations around Hyderabad for BYD’s planned facility. Notably, MEIL group’s Olectra Greentech is already manufacturing electric buses using BYD technology, highlighting an existing collaboration.
Adding context to the ongoing discussions, BRS working president K.T. Rama Rao revealed on August 29, 2024, via X (formerly Twitter) that the Union Government had previously rejected BYD’s proposal for a factory in Telangana.
If BYD proceeds with this project, it could generate employment opportunities, introduce advanced technology, and further strengthen India’s EV sector. This expansion would not only enhance India’s position in the global market but also support the country’s shift towards cleaner energy solutions.
The Telangana government has reinforced its commitment to electric vehicle (EV) adoption by introducing a comprehensive EV policy with significant incentives. A major highlight of this policy is the 100% exemption on road tax and registration fees for all categories of electric vehicles. This initiative, valid until December 31, 2026, aims to accelerate the state’s transition to sustainable transportation.
