BYD Eyes $10 Billion EV Hub Near Hyderabad, Boosting India’s Clean Mobility Push
India’s electric vehicle (EV) landscape is set for a major transformation as Chinese auto giant BYD considers investing $10 billion in a production hub near Hyderabad. This development signals a significant boost for India’s EV manufacturing capabilities and aligns with the nation’s push toward clean mobility.
BYD, one of the world’s leading EV manufacturers, reported a staggering $107 billion in revenue for 2024—surpassing Tesla’s $97.7 billion. The company also delivered 4.27 million vehicles, including electric and hybrid models, compared to Tesla’s 1.79 million battery-powered vehicles, further cementing its dominance in the global EV market.
Hyderabad: A Rising EV Hub
According to reports from The Philox, BYD is in discussions to establish a manufacturing base near Telangana’s capital. Local sources, including Eenadu, indicate that the state government has already proposed multiple sites for the facility. This potential investment could create thousands of jobs and introduce cutting-edge EV technology to India’s rapidly growing market.
BYD’s presence in Telangana is not new. Olectra Greentech, a subsidiary of MEIL, already produces electric buses using BYD’s technology, hinting at an established partnership in the region.
Challenges and Federal Roadblocks
Despite the enthusiasm surrounding this project, there have been hurdles. On August 29, 2024, BRS working president K.T. Rama Rao revealed on X (formerly Twitter) that the Union Government had previously rejected BYD’s proposal to set up a factory in Telangana. However, with growing demand for EVs and increasing policy support, fresh negotiations could lead to a breakthrough.
Telangana’s EV Push
The Telangana government has been proactive in fostering EV adoption. The state’s latest EV policy offers a 100% exemption on road tax and registration fees for all categories of electric vehicles—a move aimed at making EVs more accessible and attractive to consumers. These incentives, available until December 31, 2026, are expected to accelerate the shift to sustainable transportation in the state.
Impact on India’s EV Ecosystem
If BYD moves forward with its investment, the new manufacturing facility could position India as a key player in the global EV supply chain. It would enhance local production capabilities, reduce dependency on imports, and promote India as a competitive hub for EV manufacturing. The project could also bolster India’s clean energy ambitions, aligning with the government’s goal of achieving net-zero emissions by 2070.
With global automakers increasingly looking at India as a promising EV market, BYD’s potential expansion marks another milestone in the nation’s journey toward sustainable and self-reliant mobility solutions. As the world shifts gears toward electric, India stands poised to drive the future of green transportation.
