BRS working president is looking at taking credit for the 10 billion dollar investment proposal of BYD & Olectra in Telangana. At least, that’s what one can understand from his post on X handle.
He wrote that the BYD & Olectra investment was discussed and agreed upon in 2022-23. At the time, it was stalled due to foreign policy decision at the union government, he went on to write.
He said he was glad that the deal is now possible due to relaxed policy against Chinese investments by government of India. KTR didn’t stop there. He went on to say that he was proud that BYD coming to Telangana was because of BRS’ EV & ESS policy.
He took the opportunity to put focus on the fact that Formula E wasn’t just a race. It was a comprehensive plan to make Telangana mobility valley the epicenter of India’s EV sector. BYD is the direct result, he gushed.
KTR also congratulated all those who worked tirelessly for years so that BYD could set up a plant in Telangana.
As per the deal, the project will set up a 20GWh battery plant and is expected to manufacture 6 lakh EVs yearly by 2032. The Telangana government is extending full support including making land allocation. Incidentally, BYD had recently surpassed Tesla in revenues due to hybrid vehicle sales.
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