Posted on 07/22/2023 9:26:54 AM PDT by Right Wing Vegan
Just over a week ago it was announced that BYD (Build Your Dreams) - one of the largest EV manufacturers in the world, had proposed a $1 billion investment in India to set up an EV and battery manufacturing plant in the country in partnership with Hyderabad-based Megha Engineering and Infrastructures Ltd. Now, we have learned that BYD's proposal has been rejected by the Indian government!
The two companies had in their application to the Department for Promotion of Industry and Internal Trade (DPIIT) proposed to set up an electric vehicle plant in Hyderabad.
The DPIIT had sought opinions from other departments on the investment proposal. "Security concerns with respect to Chinese investments in India were flagged during the deliberations," one of the officials told ET. "Existing rules do not allow such investments," a second official who was involved in the discussions said.
In its proposal to the DPIIT, the venture is claimed to have made a pitch to manufacture 10,000-15,000 electric cars a year from the facility. Megha was putting up the capital while technology and know-how was to come from BYD, one of the persons associated with the plan had revealed to ET.
The move comes amid the continuing tensions between India and China. Another Chinese four-wheeler manufacturer Great Wall Motor previously tried to enter the Indian market with a similar proposed investment of $1 billion. However, GWM also had to shelve its plans to enter India in July last year after failing to obtain approvals from the government, despite waiting for about two and a half years.
That said, BYD does currently operate in the Indian market, offering two fully-electric cars - Atto 3 and e6. The manufacturer now plans to launch its Seal EV in the Indian market by the end of this year. The BYD Seal EV was showcased at the 2023 Auto Expo earlier this year, and could also arrive through the same SKD (semi-knocked down kits) route as the Atto 3 and e6.
Good call, their product is a rolling firebomb.
India can make it’s own useless EVs thank you very much
Smart India- enemies for centuries of China. India’s manufacturing is better than the Chi-Coms. Like the Ford engineered Mahindra (from WWII era). The Chi-coms insert their crap manufacture by greasing foreign govts. to install their crap and put them out of real export quality. The “BELT” then the “Road” paved right over them. They’ve done it to the US and still do, paying the “Left” people like the Bidens and many US uniparty senators. Greased palms and greased hair. Xiao Biden.
It’s not safe for women in India ,they have separate cars on the train for women and with the west bringing in millions of them you know what’s going to happen
India and China as two civilizations have been friends for millenia, until 1962.
Only with the conquest of Tibet by Communist China in 1959 did the enmity start and it was ini6just on the Chinese side.
But, since 1962 India has seen China as the enemy that stabbed it in the back.
Cronos that change also happened as Vietnam war the proxy war of control of Vietnam between Soviet Russia and Chi-Coms... and Russia won. Vietnam for centuries China’s enemy (even as China demanded access to the breadbasket of Vietnam
agriculture).
Gonna look into India (not Brit Raj India which because of Brit Hong Kong of the time... were not “enemies” per se). The entire opium/tea/taels of silver trade all occurred in this relationship— Hong Kong Brits got tea from china with balance of payments (china demanded silver) being made up with middlemen/agents for Indian opium- which they hooked the chinese on (and the Boxer Rebellion etc.). Amazing history and thanks for the reminder.
GREAT !!!!
BYD bribed Gavin Newsom and Jeb Bush for electric buses among other politicians. Newsom said he gave a $1.6 billion contract to BYD to make face masks back in april 2020 and not a single mask was produced. The money disappeared and I bet was his buy in for president.
An Indian firm just last week broke an arrangement with the HUGE (Taiwan?) firm TSMC also.
(I believe it was TSMC)
That was HUGE
Not sure India is not making big mistakes here…
I don’t get your comparison with Vietnam’s relationship with China.
China conquered Ban Viet during Han times and then tried again under the Yuan.
China has never tried to conquer parts of the Indian subcontinent prior to 1959.
then there is ....
“Tesla is actively pursuing talks with the Indian government to establish a local factory. This strategic move aims to enable Tesla to manufacture EVs in India and offer them at more affordable prices. According to government sources cited by The Times of India, Tesla plans to produce up to 500,000 EVs annually, with prices starting at Rs 20 lakh. If accomplished, this development could significantly boost India’s emerging EV market1. Tesla has already incorporated Tesla Motors India and Energy Private Limited with its registered office in the city of Bengaluru in Karnataka2. The company has chosen Karnataka for its first production plant in India.”
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