MEIL Chinese BYD seek govt approval to set up USD 1 bn EV facility in Telangana
(This story has not been edited by THE WEEK and is auto-generated from a PTI
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(This story has not been edited by THE WEEK and is auto-generated from a PTI
China's BYD Co Proposes $1 Billion Investment for Electric Vehicles and Batteries in India Introduction China's leading electric vehicle (EV)
STORY: China's BYD has big plans for India.
Chinese EV manufacturer BYD and Indian company Megha Engineering and Infrastructures (MEIL) have submitted a joint proposal for a $1bn investment in a 10,000-15,000 unit, four-wheeler manufacturing facility in Hyderabad. Olectra Greentech, a MEIL subsidiary, has already developed electric buses using BYD technology and has orders for 2,000 worth INR30-35bn ($406-474m), which it plans to deliver over the next 12-18 months.
BYD, the largest manufacturer of EV's in China, has proposed investing $1 billion in India to produce electric vehicles and batteries.