BYD considering a $10 billion manufacturing facility near Hyderabad

The Union Government rejected BYD’s $1 billion proposal to set up a factory in 2023. BYD has now received the government nod and is ready to set up a facility near Hyderabad.

The Telangana government suggested three potential locations, which BYD is evaluating. It plans to increase production to 600,000 EVs yearly in the next 5-7 years.

The state government implemented a new EV policy offering significant incentives, including a 100% exemption on road tax and registration fees for all EVs. This initiative is valid till December 31st, 2026.

BYD’s 1 MW flash charger can fully charge a vehicle within 5-8 minutes, allowing its cars to travel up to 400 km after a single charge. It assembles and rolls out electric buses from a small base in Tamil Nadu.

BYD reported $107 billion in revenue and 4.27 million in sales in 2024, compared to Tesla’s $97.7 billion and 1.79 million sales.

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