BYD To Setup Rs 85,000 Crore Plant In India
- BYD is preparing to set up a production unit near Hyderabad, considering an investment of Rs 85,000 crore ($10 billion).
- This move could turn Hyderabad into a major EV hub, creating jobs and boosting local industries.
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Chinese EV giant BYD is considering to invest RS 85,000 crore by setting up a manufacturing plant in Telangana’s Hyderabad to set up a 500-acre manufacturing facility with a capacity to produce 600,000 EVs and 20 GWh batteries over the next five to seven years.
Additionally, the facility will house a battery production unit with a 20 GWh capacity, which could help reduce vehicle prices and further solidify BYD’s position in the Indian market.
BYD is evaluating three potential locations in Hyderabad. Once a site is finalized, a formal agreement is expected, setting the stage for a state-of-the-art EV and battery production hub.
This initiative marks one of the most significant private-sector investments in India’s EV sector.
According to media reports. 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.
However, with recent policy adjustments easing restrictions, the company appears to be moving forward with its expansion plans. c buses in Hyderabad for several years.
BYD India Plans
Currently, the company imports its electric cars from China, leading to high costs due to import duties. However, with a local plant, production costs will reduce significantly, allowing BYD to price its cars more competitively and increase its market share.
Moreover, BYD has been working to set up its own unit in the country for the past two years. However, it has not been possible so far due to the central government’s strict regulations of Chinese investments.
Notably, BYD has a long standing technical partnership with Olektra Greentech, an MEIL group company that has been operating electric buses based in Hyderabad for years. Olektra Greentech produces electric buses using BYD technology and supplies them across the country.
BYD Recent Milestones
- The company announced last week that its new Super e-Platform will enable cars to achieve a 400-kilometre range with just five minutes of charging.
- BYD witnessed a 40% rise in vehicle sales. According to recent reports, BYD has reported an annual revenue of 777 billion yuan ($107 billion) for 2024, surpassing its USA rival, Tesla.
- The EV giant is now the largest carmaker in China with 4.25 million vehicles sold last year, replacing Volkswagen, which had led the market for years.
- Moreover, BYD posted a 29 percent increase in revenue from the previous year, supported mainly by sales of its hybrid vehicles.
BYD Cars India
BYD has a total of 4 car models available in India right now, including 2 SUV’s, 1 MUV and 1 Sedan.
| Model | Ex-Showroom Price |
|---|---|
| BYD Seal | Rs. 41 - 53 Lakh* |
| BYD Atto 3 | Rs. 24.99 - 33.99 Lakh* |
| BYD Sealion 7 | Rs. 48.90 - 54.90 Lakh* |
| BYD eMAX 7 | Rs. 26.90 - 29.90 Lakh* |
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