BYD to set up first India EV factory near Hyderabad, eyes 600K cars yearly
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Chinese electric vehicle (EV) manufacturer BYD is preparing to set up a production unit near Hyderabad, according to a report by ETV Bharat on Thursday. This would make Telangana the first Indian state to host a BYD factory. The decision reportedly follows extensive discussions with the state government, which has assured its full support, including land allocation, for the project.
The Telangana government, according to the report, has suggested three potential sites for the facility, all located near Hyderabad. BYD representatives are currently assessing these locations, after which a final decision will be made.
Once confirmed, an agreement is expected to be signed between the company and the state authorities. If the project proceeds as planned, Telangana will secure one of the largest private sector investments in the EV sector. Furthermore, the initiative could pave the way for the establishment of ancillary industries manufacturing EV components, creating an automotive cluster around Hyderabad.
BYD’s first manufacturing unit in India
Despite having a presence in India for several years, BYD does not yet operate a manufacturing facility in the country. Currently, it imports electric vehicles from China, incurring high import duties that contribute to higher prices. This has limited the company’s market penetration. Establishing a local manufacturing unit would significantly reduce costs, potentially increasing sales and enhancing BYD’s competitiveness in India’s EV market.
For the past two years, BYD has been exploring options to set up a production facility in India. However, strict regulations on Chinese investments had delayed its plans.
In 2023, the Indian government had turned down a $1 billion investment proposal from BYD and its Hyderabad-based partner Megha Engineering and Infrastructures Ltd (MEIL) to establish an EV manufacturing facility, according to media reports.
The joint venture aimed to set up the plant in Telangana with an estimated investment of ₹8,200 crore. The proposal was submitted to the commerce and industry ministry and subsequently reviewed by the ministries of heavy industries, external affairs, and home affairs before being rejected.
However, with recent policy adjustments easing restrictions, the company appears to be moving forward with its expansion plans. Additionally, it currently has an established technical partnership with Olectra Greentech, a subsidiary of the MEIL Group, which has been operating electric buses in Hyderabad for several years. Olectra Greentech manufactures these buses using BYD technology and supplies them across the country. Industry analysts believe this existing collaboration may have influenced BYD’s decision to choose Telangana for its new facility.
Expansion plans: Battery production and more
Beyond vehicle assembly, BYD is also planning to set up a 20-gigawatt battery manufacturing plant in India. Over the next five to seven years, the company aims to ramp up production capacity to 600,000 EVs annually. This expansion will require significant investment from BYD, which recently surpassed Tesla in revenue, generating approximately $107 billion (Rs 9.20 trillion) versus Tesla’s $97.7 billion (₹8.40 trillion).
As Tesla faces declining sales in China and Europe, BYD continues to innovate and expand. The company has introduced cutting-edge technology, including a 1 MW flash charger capable of fully charging a vehicle in just 5-8 minutes. This breakthrough allows an EV to travel up to 400 km on a single charge, potentially transforming the future of electric mobility.
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