Chinese EV maker BYD junks reports of setting up plant in Hyderabad

Chinese electric vehicle (EV) maker BYD has refuted claims suggesting it intends to establish a manufacturing plant in India, according to a report by TechinAsia.com.

The company dismissed the reports as “untrue” in an official statement posted on its WeChat account. Media reports last week suggested that BYD plans to invest approximately $10 billion to develop a production facility in Hyderabad. However, the firm clarified that no such deal or investment decision has been finalised.

Also read: India will soon drop its tariffs substantially: Trump ahead of April 2 reciprocal threat

No definitive plans yet

According to The Bridge Chronicle, BYD has clarified that while it is exploring opportunities in India, the company has no definitive plans regarding a manufacturing facility in Hyderabad or elsewhere. The company reaffirmed its commitment to assessing market conditions and regulatory frameworks before making any major investments.

Interestingly, though BYD has been actively expanding its footprint in international markets such as Southeast Asia, South America, and Europe, it has not announced any large-scale manufacturing ventures in India. The company currently operates in the country through its subsidiary, BYD India, which primarily focuses on electric buses and passenger vehicles.

Reports of ‘Hyderabad facility’

Recent reports suggested that BYD will invest Rs 85,000 crore ($10 billion) in building a state-of-the-art manufacturing plant in India. A separate report claimed that Telangana government officials confirmed that the state government has identified 200 acres of land for BYD.

Also read: Renault to buy out Nissan's stake in Indian joint venture

The company has been reportedly exploring locations in Telangana for the proposed facility, with Hyderabad emerging as a potential final choice. As per the report, the Indian plant will span over 500 acres and is expected to have a production capacity of 600,000 vehicles by 2032. Additionally, BYD is planning to establish a battery manufacturing unit with a capacity of 20 GWh.

According to reports, the state government had identified three potential locations near Hyderabad for the proposed facility. BYD representatives were said to be evaluating these sites before making a final decision.