BYD proposed to build EV, battery joint venture in India in partnership with local company – report

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

Chinese electric vehicle maker BYD Company has submitted a $1 billion investment proposal to build electric cars and batteries in India in partnership with a local company, reported BYthree people with direct knowledge of the plan told Reuters.

BYD and privately held Hyderabad-based Megha Engineering and Infrastructures have submitted a proposal to Indian regulators to form an EV joint venture, the report said.

The longer-term plan is to build a full line-up of BYD-brand EVs in India from hatchbacks to luxury models, it said.