EVs: BYD-Megha submits $1 billion proposal to make EVs in 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.
Source: indiatimes.com