Chinese company BYD and Hyderabad-based Megha Engineering and Infrastructures have jointly submitted a proposal to form an electric vehicle (EV) joint venture in India. The proposal includes plans to manufacture a range of BYD-brand electric cars in India, covering hatchbacks to luxury models. BYD, the world’s largest producer of EVs and plug-in hybrid vehicles, aims to expand its presence globally and compete with Tesla. The investment proposal also entails the establishment of charging stations, research and development centers, and training facilities in India. However, the proposal comes amidst stricter investment regulations in India, particularly for investments from neighboring countries like China.
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