Chinese electric vehicle (EV) giant BYD is gearing up for a major expansion into India’s booming EV market.
The company is in advanced talks to set up its first manufacturing facility in the country, with Hyderabad, Telangana, emerging as the leading contender.
As per reports, BYD is considering an investment of ₹85,000 crore ($10 billion) in this mega project. The facility is expected to span 500 acres and will have the capacity to produce 600,000 EVs annually by 2032.
Additionally, the project includes a 20-gigawatt-hour (GWh) battery production unit, which will help reduce costs and make EVs more affordable in India’s price-sensitive market.
The Telangana government has proposed three potential sites for the plant, and BYD representatives are currently evaluating these locations. If finalized, this development could position Hyderabad as a major EV manufacturing hub.
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BYD currently imports EVs from China, resulting in higher prices due to import duties. A local manufacturing unit will cut costs, boost sales, and enhance competitiveness in India.
The investment is set to create jobs and drive Hyderabad’s EV ecosystem, aligning with Telangana’s goal of becoming a major EV hub.
Globally, BYD has surpassed Tesla in revenue ($107B vs. $97.7B) and is pioneering innovations like a 1 MW flash charger that charges EVs in 5-8 minutes. With this move, BYD is solidifying its presence in India’s EV market, promoting affordable, locally made electric vehicles, and shaping the country’s clean mobility future.
To accelerate EV adoption, the Telangana government has introduced a new electric vehicle policy offering full exemption from road tax and registration fees for all EVs. This incentive will remain in effect until December 31, 2026, making EVs more accessible to consumers.
