BYD, the Chinese electric vehicle giant, has denied reports claiming that it was planning to set up an electric car manufacturing plant in Telangana. The company clarified that no definitive decision has been made regarding the establishment of a plant in Hyderabad. Although there are opportunities for a plant in Telangana, the company stated that it cannot make any final decisions at this time.
BYD, which already operates in India but does not have a local production unit, currently imports cars made in China, which incurs high import duties. As a result, the company has been considering setting up a manufacturing unit in India for some time. The Telangana government had been in talks with BYD regarding a potential plant in Hyderabad, leading to rumors that the company would invest $10 billion to establish a facility near the city.
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The viral news also suggested that BYD’s investment could generate thousands of jobs and strengthen India’s electric vehicle industry. However, BYD has firmly dismissed these reports, calling them completely baseless. The company clarified that there were no concrete plans for such an investment.
In response to these developments, BRS Working President K.T. Rama Rao (KTR) attributed the interest of companies like BYD in Telangana to the state’s progressive electric vehicle policies. He emphasized that the BRS government’s efforts over several years have played a crucial role in attracting such investments. While BYD has yet to clarify its stance, industry sources believe that there may still be future opportunities for the company to invest in Telangana.