The project will house a 20 GWh battery plant and is expected to generate 600,000 EVs yearly by 2032.
Published Mar 26, 2025 | 12:41 PM ⚊ Updated Mar 26, 2025 | 12:41 PM
BYD car. (BYDOffical/ X)
Synopsis: Chinese EV giant BYD is investing $10 billion in India to build a massive production base near Hyderabad, including a 20 GWh battery plant and plans to produce 600,000 EVs annually by 2032. The Telangana government is offering full support, including land allocation. BYD’s recent success includes surpassing Tesla in revenue, driven by hybrid vehicle sales.
Investing $10 billion in India, Chinese electric vehicle behemoth BYD is building a massive production base close to Hyderabad, Telangana.
The project will house a 20 GWh battery plant and is expected to generate 600,000 EVs yearly by 2032.
A report from the Telugu daily Eenadu noted that the Telangana government has assured the company that it will provide all kinds of support, including allocating the necessary land for this project.
The report further claimed that the Telangana government has proposed three locations near Hyderabad for BYD to set up a unit. If an agreement is reached, it will secure the largest private sector investment in the EV sector, along with potential units for EV car parts, creating an electric vehicle cluster near the city.
Meanwhile, BYD has a long-standing technical partnership with Olectra Greentech, a MEIL Group company based in Hyderabad, which produces electric buses using BYD technology and supplies them across the country.
Though BYD had been aiming to set up a plant in India, the Union government’s restrictions on Chinese investments had made it difficult.
However, according to an Indian Express report, discussions are on between departments to dilute or neutralise some of the restrictions on trade and investments that were put in place five years ago after clashes between Chinese and Indian soldiers in Galwan in 2020.
According to recent reports, BYD has reported an annual revenue of 777 billion yuan ($107 billion) for 2024, surpassing its USA rival, Tesla.
According to a CNBC report, in a filing published Monday, 24 March, BYD posted a 29 percent increase in revenue from the previous year, supported mainly by sales of its hybrid vehicles.
The automaker announced last week that its new Super e-Platform will enable cars to achieve a 400-kilometre range with just five minutes of charging.
The report further noted that the decline in Tesla sales in Europe especially could also be attributed to its CEO Elon Musk’s rise as a hard-line conservative political figure.
(Edited by Sumavarsha, with inputs from Sai Charan)
