What's Nothing Phone 3 Got To Do With Chinese EV Giant BYD? Turns Out, It Could Be A Matter Of Rs 1,000 Crore
While BYD is globally known for its electric cars and battery tech, its Indian arm has quietly been expanding its role in electronics manufacturing.
The freshly unveiled Nothing Phone 3 may be grabbing headlines for its design and performance, but what’s printed on the back of its sleek white box hints at something just as intriguing: it’s manufactured in the country by none other than the India wing of BYD — yes, the same Chinese electric vehicle giant challenging Tesla’s dominance.
From EVs to Smartphones: BYD’s Expanding India Play
While BYD is globally known for its electric cars and battery tech, its Indian arm has quietly been expanding its role in electronics manufacturing. The Nothing Phone 3, alongside previous models, is currently assembled at facilities run by Noida-based Dixon Technologies and BYD India.
For many consumers, BYD may ring a bell for its $165-billion valuation and Tesla-rival status, but now it's making headlines for powering the production line of a London-born smartphone disruptor.
Big Bets On India: Nothing Eyes Rs 1,000-Crore JV
This unusual alliance is just one part of Nothing’s larger manufacturing vision for India. According to a Moneycontrol report, the company is in advanced talks with key electronics manufacturers to set up a joint venture worth over Rs 1,000 crore. The move is not just aimed at catering to the local market but at transforming India into the central export base for its global supply chain.
“Nothing is looking at a joint venture with a key manufacturing partner in India, the talks with different potential partners are in advanced stages,” a source familiar with the developments told Moneycontrol. If the plan materialises, the investment will fund a new facility for both smartphones and audio products in the country.
Why India Matters To Nothing’s Future
Nothing’s CEO, Carl Pei, during his recent visit to India, reportedly met with several electronics manufacturing service (EMS) firms to cement India’s role in the company’s global growth strategy. To further fuel its regional ambitions, Nothing has appointed co-founder Akis Evangelidis as its India president, with the task of driving expansion in what is now the world’s second-largest smartphone market.
The move comes as part of a broader industry trend. Chinese smartphone giants have been steadily entering joint ventures with Indian partners to align with the government’s “Make in India” push. Dixon, for instance, is already in deals with Vivo and Transsion Holdings’ Ismartu India, while Oppo is also reportedly exploring similar partnerships.
Nothing’s rise has been nothing short of remarkable. According to Counterpoint Research, the brand was the fastest-growing smartphone player in 2024, boasting a 577% year-on-year growth, propelled by its affordable Phone (2a) and CMF sub-brand. With five quarters of consecutive top-tier growth, the company is betting big on India, not just for assembling phones, but for shaping its global identity.
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