Hyderabad – : K.T. Rama Rao, the working president of Bharat Rashtra Samithi (BRS), has publicly defended the previous government’s decision to host the Formula E race in Hyderabad, known as the ‘Hyderabad E-Prix.’ Speaking to reporters, he expressed his willingness to face imprisonment if it brings satisfaction to Chief Minister A. Revanth Reddy, who has reportedly hinted at possible legal actions against him related to the event.
“If they want to file a case, let them. I’ll go to jail for two months and come back stronger, ready to continue the fight for Telangana’s future,” KTR stated, dismissing allegations of corruption and asserting that his efforts were aimed at enhancing Hyderabad’s global reputation through the high-profile racing event.
The BRS leader emphasized that his administration invested significant time and resources to promote both the city and the state. “If anyone intends to imprison me out of political vendetta for bringing investments to Hyderabad, creating an incredible brand for the city, and generating employment opportunities through these investments, I will not back down,” he asserted.
In response to claims of financial mismanagement, KTR clarified that the government allocated approximately Rs 40 crore for the Formula E event. He elaborated that the race was part of a broader initiative—Telangana E-Mobility Week—designed to attract investment in the electric vehicle sector, which he believes has been instrumental in drawing companies to consider Telangana as a viable investment destination.
KTR highlighted the economic impact of the Formula E race, claiming it brought around Rs 700 crore in economic benefits and attracted investments estimated at Rs 15,000 crore, creating thousands of job opportunities in the process. He explained that the funding for the event was a result of a tripartite agreement involving Hyderabad’s urban development authority, HMDA, the FIA, and various sponsors.
The former minister stressed that the Telangana government’s investment in the race was a strategic decision to enhance the city’s profile and foster job creation. “According to studies conducted by reputable global firms like Nielsen, the event not only generated substantial benefits for the city but also increased Hyderabad’s visibility across more than 49 countries, promoting it as a hub for electric vehicle technology and manufacturing,” he added.
In addressing Revanth Reddy’s accusations of corruption, KTR maintained that all financial dealings related to the Formula E event were transparent and duly authorized by the relevant authorities. He reiterated that the initiative was not merely about the race itself but was part of a larger vision to promote sustainable mobility and attract further investments in the electric vehicle sector.
KTR criticized attempts to undermine Hyderabad’s progress, claiming that Reddy’s political maneuvers could harm the city’s image. He also dismissed Reddy’s proposal to host the Olympics in Telangana, branding it as an impractical and costly venture that would not benefit the state.
As the political tensions escalate over the Formula E race, KTR remains steadfast in his commitment to his vision for Telangana’s future, promising to fight for the state’s interests amid ongoing scrutiny and allegations from his political opponents.