Wow! KTR elated over BYD’s move to set up shop in State

Hyderabad: BRS Working President KT Rama Rao expressed his delight over the decision of electric vehicle (EV) giant BYD to establish its manufacturing plant in Telangana, a move that he attributed to the visionary policies introduced during the BRS government’s tenure.

KTR hailed the development as a testament to the effectiveness of well-thought-out policies that rise above petty politics to deliver significant outcomes. KTR emphasised that BYD’s arrival in Telangana was a direct result of the Telangana Mobility Valley initiative and the State’s Electric Vehicle (EV) Policy, both of which were introduced under the BRS regime. “It is because of the Telangana Mobility Valley and EV Policy that BYD has come to Telangana today,” he said, adding that the same comprehensive vision led to the organisation of the Formula-E race in the state as part of this broader strategy.

The BRS leader congratulated everyone involved in the efforts to secure this massive investment, which he described as a milestone for Telangana. He noted that BYD, a global leader in the EV sector, had agreed to invest heavily in Telangana during the BRS government’s term, with discussions held in 2022-23 estimating an investment of approximately $10 billion. At the time, BYD had planned to invest through Hyderabad-based Olectra Greentech for this venture.

However, KTR recalled that the investment was delayed due to restrictions imposed by the Central government’s foreign policy on investments from China. He expressed happiness that recent relaxations in the Union government’s policies have now paved the way for BYD to proceed with its plans in Telangana.

KTR underscored that the groundwork laid by the BRS government, particularly its EV Policy, was instrumental in attracting such a significant investment. “The fact that a giant like BYD is investing in Telangana today is a direct outcome of the EV Policy we formulated during our tenure,” he remarked. He took this occasion to reiterate his views about the Congress party criticise regarding the Formula-E race and clarified that it should not be viewed merely as a racing event. “We have said multiple times that the Formula-E race was organised as part of a comprehensive plan under the Telangana Mobility Valley initiative,” he said. He explained that the race was a strategic move to position Telangana as a hub for the electric vehicle industry in India, supported by a robust roadmap that included the innovative EV Policy, EV Summit, establishment of Telangana Mobility Valley, and the hosting of Formula-E. “The result of these efforts is evident today with BYD’s investment,” KTR asserted.