Hyderabad: Chinese electric vehicle (EV) giant BYD is reportedly planning a massive ₹85,000 crore (approximately $10 billion) investment to set up a manufacturing facility in Hyderabad, Telangana. Spanning 500 acres, the plant is expected to reach an annual production capacity of 600,000 vehicles by 2032. Additionally, BYD will establish a 20 GWh battery production unit, which could help lower vehicle costs and strengthen its foothold in the Indian market.

This move positions BYD ahead of competitors like Tesla, which is still in the process of entering the Indian market. BYD, already active in India, is now focused on expanding its operations.

To boost EV adoption, the Telangana government has introduced an Electric Vehicle and Energy Storage Policy (2020–2030), offering 100% exemption from road tax and registration fees for electric vehicles registered in the state. The policy covers various vehicle categories, including two-wheelers, auto-rickshaws, commercial four-wheelers (taxis and tourist cabs), light goods carriers, private cars, buses, and tractors. These incentives will remain in effect until December 31, 2026.

Further supporting EV infrastructure, the Telangana State Renewable Energy Development Corporation (TSREDCO) has been tasked with setting up public charging stations, either directly or through partnerships. Efforts are also being made to ensure these stations run on renewable energy, reinforcing the state’s commitment to sustainable transportation.

BYD’s proposed investment aligns with Telangana’s vision of becoming a hub for EV manufacturing and energy storage. By attracting global industry leaders, the state aims to drive economic growth, create jobs, and promote clean energy adoption.

---

City Development Updates…

---

Daily Quote

More Hyderabad News

More National, Global News

You can get instant news and articles from Hyderabad Post

Click to Like/Follow/Subscribe us on Facebook – Twitter – Telegram – Instagram – WhatsApp – YouTube