China company BYD’s EV proposal hits hurdle

NEW DELHI: In a setback to Chinese companies looking at joint venture route to expand India footprint, a proposal from automaker BYD to partner Hyderabad-based Megha Engineering and Infrastructure (MEIL) for electric vehicles, has hit the security roadblock. Top policymakers are not keen to allow the company from across the border to invest in the country.

There is discomfort in the home and external affairs ministries over the entry of Chinese players in the wake of the government’s stand to keep players from across the border out of the Indian market, given the security concerns around several of them.