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Domestic infra major MEIL and BYD's joint venture proposed to set up an electric vehicle (EV) manufacturing plant in Telangana with a joint investment outlay of USD 1 billion.
"The company is not looking at the option of a joint venture in India even as some of its Chinese peers, such as those in the auto space like MG Motors and BYD, are eyeing the route to overcome the
Domestic infra major MEIL and BYD's joint venture proposed to set up an electric vehicle (EV) manufacturing plant in Telangana with a joint investment outlay of $1 billion (around Rs 8,200 crore).
Chinese mobile phone manufacturer Xiaomi has said it will not pursue the joint-venture solutions used in India by its peers. President Muralikrishnan B said the firm was looking to remain a 100% subsidiary of its Chinese parent, amid speculation of an Indian joint venture, especially as some of its contract manufacturers enjoy incentives from the government.
Recently, BYD (Build Your Dreams), one of the world's largest electric vehicle (EV) manufacturers, proposed a substantial $1 billion investment to establish an EV and battery manufacturing plant in India, according to The Times Of India report. The collaboration was intended to be with Hyderabad-based Megha Engineering and Infrastructures Ltd., Companies News, Times Now