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BYD to invest $10b in its first Indian EV factory
Chinese EV manufacturer BYD plans to invest US$10 billion in a production facility near Hyderabad, Telangana, after acquiring 500 acres of industrial land.
The facility will manufacture battery systems and electric vehicles, with an annual capacity of 600,000 EVs by 2032.
It will also include a battery unit with a 20 GWh per year capacity, marking BYD’s first factory in India.
This move aligns with India’s growing appeal to global EV manufacturers like Tesla, which recently secured a showroom in Mumbai and is exploring local production.
India has seen over 1.9 million EV registrations in 2024, driven by policy changes, including reduced import duties for companies investing in local manufacturing.
Recent BYD developments
🔗 Source: Inc42
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