BYD-Megha submits $1 billion proposal to make EVs in India

China’s BYD and Hyderabad-based Megha Engineering and Infrastructures Limited (MEIL) have submitted a joint proposal for setting up a 10,000-15,000 unit four-wheeler making factory in Hyderabad.

According to officials aware of the development, the investment will be close to $1 billion and proposals have been pitched to the Department for Promotion of Industry and Internal Trade (DPIIT).