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Automotive Industry
BYD is planning a production facility for electric cars and batteries in India together with its Indian partner Megha Engineering and Infrastructure (MEIL). According to a plan submitted to the Indian government, the partners want to invest around one billion US dollars in the plant in Hyderabad.
In the long term, BYD plans to produce 100,000 electric vehicles annually in India. BYD already sells the Atto 3 and e6 EV models in India, and the Seal is expected to follow later this year. Since it may take years to scale up local production, BYD will likely initially ship its EVs in parts for assembly to India.
The investment proposal also includes a plan by BYD and Megha Engineering to install charging stations in India and build research, development and training centres.
BYD and Megha Engineering are already working together in India, building electric buses under a joint venture called Olectra. The latter, in turn, plans to build the country’s largest electric bus plant with an annual capacity of 10,000 units. In addition, electric trucks and three-wheeled electric vehicles will also be built there.
As recently reported, Tesla started negotiations with the Indian government to build a factory with an annual capacity of 500,000 electric cars.