Olectra Greentech climbs on BYD India visit news

Olectra Greentech rose 2.93% to Rs 1,345 after a media report stated that China's electric vehicle giant BYD plans a senior management visit to India.

The move follows improving diplomatic relations between Prime Minister Narendra Modi and Chinese President Xi Jinping, which have eased travel restrictions and opened the door for business expansion.

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.

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