The Centre is said to have rejected BYD Motors’ bid to establish a $1 billion four-wheeler manufacturing facility in the country, even as the government prepares to welcome Elon Musk’s Tesla to establish a supply chain ecosystem in the nation in the near future.
The Economic Times says that “security concerns” have reportedly put a stop to BYD’s plan to collaborate with Megha Engineering and Infrastructures Ltd (MEIL), a company with headquarters in Hyderabad, on electric vehicles and batteries.
BYD-MEIL reportedly made a presentation to the Department for Promotion of Industry and Internal Trade (DPIIT) to produce up to 15,000 electric cars annually in the nation.
With technical assistance from BYD Motors, Olectra Greentech, a division of MEIL, has already produced two electric buses.
However, it was said that the government was not eager to approve the Chinese EV manufacturer’s plans to invest in India.
Ironically, BYD is already well-known in the Indian EV car industry.
BYD India Private Ltd planned to sell 15,000 units in 2023, while also boosting its distribution system and, if necessary, production capacity.
The company now produces the e6 model, an MPV, at its plant in Tamil Nadu. The company can produce 10,000 units annually at its plant close to Chennai.
The Chinese manufacturer of electric vehicles further asserted that BYD Seal has a single-charge range of up to 700 km.
After the brand-new e-6 electric MPV and BYD ATTO 3 e-SUV, both of which are now on the market, BYD Seal is BYD India’s third model for the passenger EV segment in India.
