BYD plans EV manufacturing unit with Megha Engineering in Telangana

Location likely to be Shabad near Hyderabad; battery project also under consideration

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,