China's BYD 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, two people with knowledge of the discussions said.
BYD's Atto 3 electric SUV car is displayed during its launch in New Delhi, India, October 11, 2022. REUTERS/Adnan Abidi/File Photohas 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, two people with knowledge of the discussions said.
It was not immediately clear whether BYD could have second-thoughts, and as of Thursday BYD had not formally withdrawn the investment proposal from government review, the two officials with knowledge of the review said. India's finance, external affairs and home ministry did not reply to an email seeking comment. Megha Engineering did not respond to request to comment.
For instance, the proposal said voice-activated commands for apps would be available in Indian languages in BYD electric cars built in India and that all data from the vehicles would be housed in India, one of the people said.India began subjecting investment from China to closer scrutiny in 2020 amid a series of border clashes between the two countries.its plans to invest $1 billion after failing to get clearances from the Indian government.
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