Hyderabad: The Centre has denied permission for Chinese firm BYD to set up an electric vehicle (EV) manufacturing facility in Hyderabad, according to Telangana State Renewable Energy Development Corporation (TSREDCO) chairman, Y Sathish Reddy.
The firm had decided to set up a unit with an investment of Rs 8,000 crore and manufacture 10,000 to 15,000 vehicles annually, he said.
Reddy also claimed that the Central government’s rejection of the proposal raises suspicion that it denied permission for the company as it was establishing the manufacturing unit in Hyderabad and not Gujarat.
According to the BRS leader, the Centre’s attitude has cost the youth of Telangana thousands of jobs. “It also ignored the fact that if EVs are manufactured in the country, prices are likely to come down,” he alleged.
Follow on Twitter | Posted by Abhishek Manikandan | 
