India is not keen on allowing Chinese EV maker BYD to set up shop amid border tensions: Report

economictimes.indiatimes.com:

India is not keen on allowing Chinese electric vehicle maker BYD to set up shop in the country owing to security concerns, according to a report in the Times of India. «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. There are growing concerns in the government that many joint ventures „arranged“ by the Chinese companies — some of which get state support — are „heavily weighed and controlled by the foreign partner“, while the Indian company is more or less a dummy entity, with not much control on technology, decision-making, and other critical know-how,» the Times of India claimed. «In the BYD case, the government has had similar concerns, which have come to the fore now as the Chinese electric company wants to go aggressive on India.» BYD and privately held Hyderabad-based Megha Engineering and Infrastructures have submitted a proposal to Indian regulators to form an EV joint venture, Reuters reported earlier.

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BYD, as per the report, plans to build a full line-up of BYD-brand EVs in India, from hatchbacks to luxury models. BYD, the world's largest producer of EVs and plug-in hybrid vehicles, is on a rapid global expansion to challenge Tesla, which still leads in sales of EVs alone. If the India investment is approved, it would give BYD