Amid India’s EV manufacturing push, Chinese auto giant BYD is reportedly planning to set up an EV production unit near Hyderabad with an investment of $10 Bn.
According to a report by The Philox, BYD has bought a 500-acre industrial land close to Hyderabad after discussions with the state government.
The manufacturing unit will be dedicated to build battery systems and electric cars, the report added.
The company also said that by 2032, the Hyderabad facility will be able to produce 600,000 EVs annually.
Inc42 has reached out to BYD for comments on the development. The story will be updated based on the response.
Furthermore, the new facility will also have a 20 GWh annual capacity battery manufacturing unit. If the deal materialises, Telangana will become India’s first state to have BYD’s factory.
BYD To Take On Tesla
This comes at a time when the country has managed to attract several global giants, including Tesla to participate in India’s EV manufacturing wave.
BYD’s competitor Tesla, which is now looking to enter India, recently to open its first showroom in Mumbai’s Bandra Kurla Complex (BKC). Besides, the Elon Musk-led company is in talks with multiple states, including Gujarat, Maharashtra and Tamil Nadu, to set up its manufacturing unit.
It has also started the process to ship a few thousand electric cars to a port near Mumbai over the coming months. Earlier this week, for homologation of the Model Y and Model 3 cars in India
However, BYD is ahead of Tesla in terms of current penetration in the country. BYD has four EV car models which are available in India — BYD SEALION 7, BYD eMAX 7, BYD ATTO 3 and recently launched BYD SEAL. The China-based company has more than 35 dealership partners across cities, including Delhi, Maharashtra, Odisha, Punjab, Haryana, Tamil Nadu, Telangana and more.
In 2024, BYD raked in $107 Bn, selling 4.3 Mn vehicles — more than double Tesla’s 1.79 Mn.
Apart from these players, Vietnamese in Tamil Nadu and launch its EVs in the country.
India’s EV Landscape Attracting Global Giants
With the recent policy changes, India has become a hotspot for global EV giants to invest in the country. The old policy kept barring companies like Tesla to enter the Indian market due to high import duties.
To address these concerns, the Centre approved a new EV policy in March 2024. Under this policy, the import duty on vehicles with cost, insurance and freight (CIF) value of $35,000 or above will be reduced to 15% for five years. The tax relief is valid for the companies which agree to invest at least INR 4,150 Cr (about $500 Mn) in India to set up manufacturing facilities.
In 2024, more than 1.9 Mn EV registrations took place in India. As per Inc42’s , 2025, in the last five years, the number of registered EVs across segments has increased 10-fold.
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