India has rejected Chinese automaker BYD Co's (002594.SZ)
proposal to set up a $1 billion factory in India in partnership with
Hyderabad-based Megha Engineering and Infrastructure Ltd, the Economic
Times reported on Saturday.
Reuters reported
this month that BYD had submitted a $1 billion investment proposal to
build electric cars and batteries in India in partnership with a local
company.
GDMMC could not independently verify the contents of The Economic Times' report.
Members of the press and the general public check out the Atto 3
electric SUV made by Chinese carmaker BYD, at the Fully Charged Live
electric vehicle trade show in Farnborough, Britain, April 28, 2023