BYD tells India partner it wants to drop $1 bln EV investment plan: Sources

Chinese EV manufacturer BYD has reportedly told its joint-venture partner in India that it plans to drop its proposed $1bn investment to build electric cars in the country. The move follows alleged security concerns about investment from the Chinese company, which were raised by Indian govt officials from Indian ministries, including finance and external affairs. It is not yet clear whether BYD has formally withdrawn its proposal from government review or whether it could have second thoughts about the investment.

from Auto-Industry-Economic Times https://ift.tt/siofVN9