New Delhi – China’s electric four-wheeler manufacturer BYD was denied permission to invest Rs 8,186 crore in India. The BYD establishment wanted to set up the project in partnership with ‘Megha Engineering and Infrastructure Limited’ in Hyderabad, India. India has given security reasons for denying permission for the project.
BYD said it would produce 10-15 thousand electric four-wheelers each year through this project. Currently, this establishment is selling two of its electric vehicles in India, also providing technical support to Olectra Greentech in India for electric buses.
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