Mobile component manufacturing unit at Sriperumbudur to get Rs 700 crores as investment
Posted on: 17/Oct/2019 10:03:26 AM
Sriperumbudur is an important place near Chennai having many mobile component manufacturing units.
Information that has come out is a mobile component facility here would get an amount of Rs 700 crores as investment from China based Build Your Dreams or BYD Group’s Indian arm.
On Tuesday, a meeting between the chief minister of TN, Mr. E. Palaniswami and the executive director of BYD India took place. In the meeting, ED of BYD mentioned about the investment plan in the state of TN. There were some talks about investments in electric vehicles, mobile handsets in Sipcot, Oragadam and Sriperumbudur plus talks on the job opportunities.
It must not be forgotten that BYD India arm was set up in the year 2007 in Chennai and it has got an office in New Delhi. This BYD Indian subsidiary has got 2 factories covering more than 140,000 sqm.
Mobile components, solar panels, battery energy storage, electric buses/trucks, electric forklifts, chargers and rail transit etc constitute the business of this BYD. In addition to these, BYD also provides product solutions to customers and after sale services etc.
It is important to note that BYD is presently involved in manufacturing of lithium-ion batteries in Sriperumbudur and has got 30 acre land and they want to expand. It was later pointed out by sources that BYD would first invest in a mobile components facility and later in the e-cars. The company is at present studying the electric car or e-car market. It must be noted that for electric buses BYD has got a joint venture with Olectra Greentech.
