Chinese electric vehicle giant BYD, reportedly submitted an application to India, intending to invest 1 billion US dollars (about S $ 1.3 billion) to cooperate with a local company to produce electric vehicles and batteries in India.
Reuters on Friday (July 14) quoted three anonymous people who reported that BYD and the private enterprise headquarters in Heidraba Megha Engineering and Infrastructures have submitted to Indian regulatory agencies to form an electric vehicle joint venture enterpriseApplication.
A person familiar with the matter said that BYD's long -term plan is a full series of car models in India from a hatchback to luxury models.
It is reported that the total production capacity of the factory proposed by BYD is not yet clear.According to sources, BYD plans to increase the annual output of Indian electric vehicles to 100,000 in a few years, but in the process of establishing a supply chain, it is likely to first adopt the mode of transporting car parts to India assembly.
Sources also said that BYD's investment plans include establishing charging stations, research and development and training centers in India in India.
BYD Company and the Indian Ministry of Commerce and the Ministry of Industry did not respond to Reuters' comment requests.
BYD has been trying to enter the third largest automotive market in the world in India.BYD opened a branch in India in 2007 and has a factory that produces E6 models in the local area.Last October, the relevant person in charge of BYD revealed that the Indian branch has considered building a second factory in India and will announce relevant news to the outside world at an appropriate time.
Last year, the US electric vehicle giant Tesla put shelved plans to enter the Indian market because they failed to obtain lower import car tax rates in India's official negotiations.However, Tesla has recently restarted negotiations with the Indian government.
