Chinese automaker BYD is planning to set up a production facility in Hyderabad, India, with an investment of $10 billion.
The upcoming manufacturing plant will have a production capacity of 600,000 vehicles by 2032 and a battery production facility with a capacity of 20GWh.
BYD aims to achieve competitive pricing with its EV manufacturing plant, giving tough competition to Tesla, which will be importing EVs into India.
BYD's electric vehicles are known for advanced technology, fast charging, high performance, and affordability in the premium segment.