China-based BYD Group’s Indian arm is likely to infuse Rs 700 crore in a mobile components facility in Sriperumbudur, Tamil Nadu. The company intends to invest in electric vehicles and mobile handsets manufacturing in Sriperumbudur, Sipcot and Oragadam.
BYD India was set up on March 2007 in Chennai, and has an office in New Delhi. The Indian subsidiary has two factories (one in Bengaluru), covering more than 1,40,000 sq mtr.
The company’s business covers mobile components, solar panels, battery energy storage, electric buses, electric trucks, electric forklifts, chargers and rail transit, among others. It provides customers with product solutions and related after-sales services.
The company is currently making lithium-ion batteries in Sriperumbudur, and has a 30 acre plot, which it wants to expand. In Phase-I it will invest in a mobile components facility. It is also studying the electric cars market and will invest further. BYD has a joint venture (JV) with Olectra Greentech for electric buses.