HomeBusiness ›MEIL and Chinese BYD Get Government Approval to Establish USD 1 Billion EV Amenity in Telangana

MEIL and Chinese BYD Get Government Approval to Establish USD 1 Billion EV Amenity in Telangana

The officials stated BYD and the Hyderabad-based firm have submitted a proposal to Indian regulators to set up an EV joint venture.

July 15, 2023. By Nivedita Ojha

Megha Engineering and Infrastructures Ltd (MEIL) and Chinese partner BYD Co plan to establish an EV manufacturing plant in Telangana with a joint investment outlay of USD one billion (over INR 8000 crore).

The proposal is with the government, which is looking into all factors and attributes.

With a rising demand for electric buses, Olectra Greentech Ltd, a MEIL Group company, has already acquired 150 acres of land from the Telangana government to set up a revolutionary, completely automated robotics plant that will be able to manufacture 10,000 buses annually with an augmented capacity.

The company is also proposing to augment its product line to tippers, trucks, LCVs, three-wheelers and other electric mobility products.

Once the essential approvals are in place, the BYD and MEIL consolidate may approach the state government for important land and other amenities.

The officials stated BYD and the Hyderabad-based firm have submitted a proposal to Indian regulators to set up an EV joint venture.

The long-run plan is to construct a total line-up of BYD-brand EVs in India from hatchbacks to luxury models.

BYD Co. Ltd. is headquartered in Shenzhen, Guangdong, China. It was founded by Wang Chuanfu in February 1995. The company has two major subsidiaries namely, BYD Auto and BYD Electronic.

Megha Engineering & Infrastructures Limited (MEIL) is a major infrastructure firm based in Hyderabad, India. The company was incorporated in 1989 as a small fabrication unit. Eventually, the unit recognised itself in the manufacturing and engineering sector.
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