HomeNewsIndiaAre Tesla & BYD coming to Hyderabad? What Telangana CM Revanth Reddy said in London
Trending Topics

Are Tesla & BYD coming to Hyderabad? What Telangana CM Revanth Reddy said in London

From a farmer's son to becoming the state chief minister, Revanth Reddy recently spoke at London's Westminster about his development plans for Telangana and bagged investments at World Economic Forum in Davos.

January 21, 2024 / 14:16 IST
Story continues below Advertisement
Rahul Gandhi, Congress party Lok Sabha MP, with new Telangana Chief Minister Revanth Reddy. (Photo: PTI)
Rahul Gandhi, Congress party Lok Sabha MP, with new Telangana Chief Minister Revanth Reddy. (Photo: PTI)

Telangana Chief Minister Revanth Reddy told a select audience at the Indian High Commission in London that the state is in active communication with Tesla and BYD. In his first foreign tour since winning the elections and becoming the Chief Minister in December 2023, Reddy’s brief and quick reference to Tesla and BYD piqued the interest of all those who were present.

Interestingly, in July 2023, New Delhi had denied permission to BYD, a Chinese firm, to set up a manufacturing unit in Hyderabad. Tesla has been looking to enter India for over two years, and Telangana’s former Industry and Commerce minister KT Rama Rao had famously written to its CEO Elon Musk on social media inviting him to the state. On Thursday evening, clad in a white shirt and jeans, Reddy, unlike most politicians, chose to make a rather small speech, during which he hinted two of the world’s biggest electric vehicle manufacturers could come to Hyderabad.

Story continues below Advertisement

The 54-year-old Reddy, who was previously in the Telugu Desam Party before joining Congress in 2017, did not elaborate on what stage or how imminent a deal with the two major EV manufacturers. It is well-known that Hyderabad is one of the most sought after destinations for foreign multinationals looking to set up a base in India. Accompanied by a small team of bureaucrats, Reddy, who came to the UK from Davos where he attended the World Economic Forum, proclaimed “Telangana means business.” The 54-year-old Reddy highlighted pharma, medical device, IT, aerospace, data science as some of the sectors where Telangana had made spectacular progress and continues to attract investments.

Reddy announced that the state will concentrate on developing medical tourism and will bring a new energy policy. “Hyderabad has the potential to emerge as a major destination for medical tourism especially for countries where there are long waiting periods for surgeries like the UK.” The large majority of medical tourists to India come from Southeast Asia, Africa, and Middle East, but cost advantage and quick treatment has the potential to further increase the numbers from Europe and America. Reddy also spelt out the vision to develop Telangana as a leading hub for Artificial Intelligence and healthcare.