Chinese giant BYD prepares $1 bn bet to build EVs, batteries in India
Chinese automotive giant Build Your Dreams (BYD) has submitted a $1-billion investment proposal to build electric cars and batteries in India, in partnership with a local manufacturing company, Reuters reported on Friday.
BYD and privately held Hyderabad-based Megha Engineering and Infrastructures have submitted a proposal to regulators to form an EV joint venture, according to three people in the know. The longer-term plan is to build a full line-up of BYD-brand electric cars in India from hatchbacks to luxury models, one of the three people said.
