BYD Plans EV Plant With Megha Engg In Telangana

AT FULL THROTTLE EV 4W sales in India (in units)

- SHINE JACOB

With Megha Engineering and Infrastructures Ltd (MEIL) expected to be its local partner and major shareholder, Chinese major BYD's unit to manufacture electric vehicles (EVs) and batteries is likely to come up at a spot 60 km from Hyderabad.

The global major has had talks with the central government to get clearances in this regard and seems to have received an "informal go-ahead signal" to proceed with the project with a local partner, said a source privy to the development.

The BYD project is likely to be export-oriented because the Indian EV four-wheeler market is still in its nascent stage, with only 90,432 units sold in FY24.