Hyderabad to Become an EV Manufacturing Hub as BYD Plans Major Investment
NEWS CHARIOT:-Hyderabad is rapidly positioning itself as a key hub for electric vehicle (EV) manufacturing in India. Chinese EV giant BYD, which is a global leader in the electric vehicle market, is reportedly planning to set up a new manufacturing plant near the city. With an investment of approximately Rs.70,000 crore, BYD aims to establish a state-of-the-art unit in the region, further bolstering Hyderabad’s status as a key player in the EV sector.
BYD has already secured its position as the number one company in the global electric vehicle market, posting impressive revenues of $107 billion in 2024, surpassing Tesla’s $97.7 billion. While Tesla produced 1.79 million battery-powered vehicles, BYD delivered over 4.27 million electric and hybrid vehicles worldwide. This expansion into India is expected to bring thousands of jobs, creating new opportunities in the electric vehicle manufacturing and technology sectors.
The collaboration between BYD and Olectra Greentech, a subsidiary of MEIL Group, is already underway, with Olectra producing electric buses using BYD’s technology. This partnership highlights the strong ties between BYD and Indian companies, paving the way for future growth in the country’s EV industry.
In addition to BYD’s investment plans, the Telangana government is actively promoting EV adoption through a series of incentives. The state has announced a 100% exemption on road tax and registration fees for all types of electric vehicles, which will remain in place until December 31, 2026. These initiatives are expected to significantly boost the growth of the electric vehicle market in the region, making Hyderabad a critical hub in India’s transition to clean energy.
With the proposed BYD facility and the ongoing government support, Hyderabad is on track to become a major center for electric vehicle production in the country.
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