India rejects BYD's $1 billion factory proposal, Economic Times reports

[nahtanbob]

NEW DELHI, July 22 (Reuters) - 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.

Reuters could not independently verify the contents of The Economic Times' report.

India's Department of Commerce, Department for Promotion of Industry and Internal Trade (DPIIT) had sought opinions from other departments on the investment proposal, the report said.

"Security concerns with respect to Chinese investments in India were flagged during the deliberations," the report quoted an Indian official as saying.

Writing by Sarita Chaganti Singh; editing by Jason Neely

 

[Skull and Bones]

It was probably a proposal to assemble vehicles from imported knocked down units, while trying to get subsidies and incentives from PLI schemes.

And CCP holds a stake in BYD, so probably that angle might have been evaluated too.

 

[Cheepek]

Why don't they setup a factory in their deeper than Himalayas fren Pakistan or shonar Bongoland?

 

[Skull and Bones]

Why don't they setup a factory in their deeper than Himalayas fren Pakistan or shonar Bongoland?

Bongos cannot manufacture a cycle on their own, and have to import parts and spares from China. Recently Germany launched a probe to look into that matter, as many Chinese brands have been shipping bicycles to Europe, with made in Bangladesh tag.

Bicycle export to Germany faces blow

Bangladeshi-made bicycle export to its largest market Germany is facing a blow following German imposition of anti-dumping duty with other tariffs suspecting its Bangladeshi origin, sources said. Presently, Bangladesh alone earns around 25 per cent of its total bicycle export volume from the EU co

thefinancialexpress.com.bd

You have to wonder why there is no car or motorcycle brands of their own for a nation of 200 million.

 

[pikkuboss]

You have to wonder why there is no car or motorcycle brands of their own for a nation of 200 million.

Wait until they come up with article on their world class company Baalton manufacturing world class cars and bikes.

 

[GreatHanWarrior]

The only time to thank India.

It was probably a proposal to assemble vehicles from imported knocked down units, while trying to get subsidies and incentives from PLI schemes.

And CCP holds a stake in BYD, so probably that angle might have been evaluated too.

Although CCP allowed India's illegal independence is its biggest mistake. But is it true that CCP owns a stake in BYD? as far as I know. Buffett also has a stake in BYD. Is India provoking US?

 

[Skull and Bones]

Although CCP allowed India's illegal independence is its biggest mistake. But is it true that CCP owns a stake in BYD? as far as I know. Buffett also has a stake in BYD. Is India provoking US?

https://www.reuters.com/markets/dea...shares-worth-hk560-million-filing-2022-11-04/

Even Buffet realized his mistake investing in CCP bot company.

 

[GreatHanWarrior]

https://www.reuters.com/markets/dea...shares-worth-hk560-million-filing-2022-11-04/

Even Buffet realized his mistake investing in CCP bot company.

oh. So Buffett withdrew his stake in BYD?

But BYD is not a CCP bot company. only Inovance is.

https://twitter.com/x/status/1503315269015732226

CCP bot company in India.

 

[Skull and Bones]

oh. So Buffett withdrew his stake in BYD?

But BYD is not a CCP bot company. only Inovance is.

https://twitter.com/x/status/1503315269015732226

We will rob Inovance of its technology and force them out of India on the pretext of tax theft, just like Xiaomi.

 

[GreatHanWarrior]

We will rob Inovance of its technology and force them out of India on the pretext of tax theft, just like Xiaomi.

CCP bot company colonized India economically.

 

[Menthol]

BYD should build a factory in Pakistan, and then export it to India instead.

 

[GreatHanWarrior]

oh. So Buffett withdrew his stake in BYD?

But BYD is not a CCP bot company. only Inovance is.

https://twitter.com/x/status/1503315269015732226

CCP bot company in India.

@dbc Is this Indian technology?

 

[Vikramaditya-I]

BYD should build a factory in Pakistan, and then export it to India instead.

I'm not sure if you are trolling Pakistan or China.

 

[Tomhawk011]

pakistan is dommed these days

the worst place to live as a common man and highly corroupted managment

 

[ProudThamizhan]

Tata and Tesla should be the std for India's EV. BYD is ok but can be allowed later in the cycle after local eco system is more mature at a higher std