The report notes that BYD, the world's largest EV maker, is preparing to assess its existing factory, restart training programs, and explore market opportunities for its Atto 2 compact electric SUV, set to be its most affordable model in India.

Olectra Greentech, a key partner of BYD in India, has played a pivotal role in manufacturing and supplying electric buses. The collaboration was the first to bring fully electric buses to the Indian market and has helped establish local design, R&D, and manufacturing capabilities. Olectra continues to supply buses across the country using BYD’s technology.

As per reports, BYD plans to set up a production unit near Hyderabad with an investment of around $10 billion in phases. The proposal, negotiated between BYD and Olectra Greentech (a subsidiary of the MEIL Group) in 2022-23, had been stalled due to security concerns at the Union government level. Establishing a local unit is expected to strengthen BYD’s competitiveness in India’s EV market.

Currently, BYD offers four models in India and ranks as the fourth-largest electric carmaker by sales.

Olectra Greentech is engaged in the manufacturing of composite polymer insulators, electric buses, and electric trucks. The company's consolidated net profit increased 7.29% to Rs 26.02 crore while revenue from operations rose 10.60% to Rs 347.22 crore in Q1 FY26 over Q1 FY25.