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EV Race: After Tesla, Chinese BYD Seeks $1Bn Investment In India; Will Modi Govt Nod? | Details
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Chinese Auto major BYD Co wants to invest a billio... moreChinese Auto major BYD Co wants to invest a billion dollars to set up EV manufacturing and battery factories in India.
This development has become public just after Tesla’s India plans came to light. Byd Co which is the world’s 3rd largest automaker wants to set up a JV with an Indian company and make cars.
BYD is swiftly expanding globally, its foray into india is seen as a strategic move to directly compete with Tesla. Should the investment proposal in India receive approval, it would enable BYD to establish a significant presence in all major automotive markets worldwide, with the exception of the United States.
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