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Setback for Chinese Automobile Company's $1 bn investment! Modi Government Turns Down BYD's Partnership for EV Plant Due to this Reason
24 Jul 2023 | Abstracted from Times Now News
"However, the Indian government has turned down the proposal, citing security concerns related to Chinese investments in the country.
"In the proposed venture, BYD and Megha Engineering aimed to manufacture 10,000-15,000 electric cars annually in Hyderabad. While Megha Engineering was responsible for providing the capital, BYD was set to contribute technology and know-how for the facility."
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