KTR credits BRS policy for BYD’s $10 billion investment in Telangana

BRS working president said the development was a testament to the effectiveness of well-thought-out policies that rise above petty politics to deliver significant outcomes

Hyderabad: BRS working president KT Rama Rao welcomed Chinese EV giant BYD’s $10 billion investment in Telangana, calling it a direct outcome of the State’s EV and ESS (Electric Vehicle and Energy Storage System) policy introduced during the BRS regime. He was delighted over BYD’s decision to establish its manufacturing plant in Telangana.

He said the development was a testament to the effectiveness of well-thought-out policies that rise above petty politics to deliver significant outcomes.

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In a statement on Friday, Rama Rao revealed that the investment proposal, originally negotiated and agreed upon in 2022-23, had been stalled due to foreign policy restrictions imposed by the Union government on Chinese investments. At the time, BYD had planned to invest through Hyderabad-based Olectra Greentech for this venture. However, with the recent relaxation of these rules, BYD was able to proceed with its plans in Telangana.

The former Minister said that BYD’s entry into Telangana validates the long-term vision behind the State’s EV policies. “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.

Rama Rao reiterated that the Formula E Grand Prix, held under BRS rule, was part of a strategic move to attract investments and make Hyderabad’s Mobility Valley as epicentre of India’s EV sector. He found fault with the Congress government for considering it merely as a racing event, supported by a robust roadmap that included the innovative EV Policy, EV Summit, establishment of Telangana Mobility Valley, and the hosting of Formula-E.

“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.

The BRS leader elaborated that the erstwhile BRS government had worked meticulously to bring BYD’s investment and manufacturing plant to Telangana. He credited the success to a holistic approach that combined policy innovation with practical execution. “Policies stand the test of time, irrespective of twisted politics,” he remarked, congratulating those who worked tirelessly for years to ensure BYD set up its plant in Telangana.