Reuters exclusively reported that China’s BYD Co (002594.SZ) has submitted a $1 billion investment proposal to build electric cars and batteries in India in partnership with a local company.
Automotive
BYD proposes $1 billion India plan to build EVs, batteries
14 July 2023, 6:02 pm 1 minute
Market Impact
BYD’s push into India is part of its rapid global expansion to challenge Tesla (TSLA.O), which still leads in sales of EVs alone. If the India investment is approved, it would give BYD a presence in all major global car markets with the exception of the United States.
Article Tags
Topics of Interest: Automotive
Type: Reuters Best
Sectors: Business & FinanceIndustrial Goods & Manufacturing
Regions: Asia
Countries: ChinaIndia
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
