India, March 28 -- Amid India's EV manufacturing push, Chinese auto giant BYD is reportedly planning to set up an EV production unit near Hyderabad with an investment of $10 Bn.

According to a report by The Philox, BYD has bought a 500-acre industrial land close to Hyderabad after discussions with the state government.

The manufacturing unit will be dedicated to build battery systems and electric cars, the report added.

The company also said that by 2032, the Hyderabad facility will be able to produce 600,000 EVs annually.

Inc42 has reached out to BYD for comments on the development. The story will be updated based on the response.

Furthermore, the new facility will also have a 20 GWh annual capacity battery manufacturing unit. If th...