28 July 2023, 6:57 pm 1 minute
Reuters exclusively reported that China’s BYD (002594.SZ) has told its India joint-venture partner it would shelve plans for a new $1-billion investment to build electric cars after its investment proposal faced scrutiny from New Delhi.
India’s EV market is small but growing with domestic automaker Tata Motors (TAMO.NS) dominating sales. Electric models made up less than 2% of total car sales in 2022, but the government wants to grow this to 30% by 2030.
Topics of Interest: AutomotiveTechnology
Type: Reuters Best
Sectors: Business & FinanceTechnology
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story