BYD Plans to set up Factory Near Hyderabad
Chinese EV company BYD is considering an investment of $10 billion in Hyderabad.
BYD Plans to set up Factory Near Hyderabad
Chinese EV company BYD is considering an investment of $10 billion in Hyderabad.
As per thephilox.com, BYD is planning to set up a factory near Telangana's capital. The move can give thrust to India’s EV industry.
BYD has witnessed tremendous growth in the global EV market. The company reported $107 billion in revenue for 2024, higher than Tesla’s $97.7 billion.
Eenadu reported that the Telangana government has suggested multiple locations around Hyderabad for BYD's facility. Notably, Olectra Greentech produces electric buses using BYD technology, indicating an existing connection.
If BYD goes forward with the plan, it can create jobs, introduce new technology, and strengthen India's EV sector.
In a bid to increase EV adoption, the Telangana government has undertaken several steps by implementing a new EV policy. The government is offering 100% exemption of road tax and registration fees for all categories of electric vehicles. This initiative is valid till December 31 2026.
