The government has rejected Chinese electric vehicle giant BYD Motors and Megha Engineering and Infrastructures Ltd (MEIL) plan to set up a $1 billion four-wheeler manufacturing facility in India.

In its proposal to the Department for Promotion of Industry and Internal Trade (DPIIT), the venture made a pitch to manufacture up to 15,000 electric cars a year. MEIL was infusing money while technology and know-how was to come from the Beijing-based company.
Olectra Greentech, a unit of MEIL, has already developed two electric buses with technical support from BYD. Since April 2020, firms from land-border-sharing neighbours need approval to invest in Indian companies. A committee headed by the home secretary must approve such proposals first. The step was made obligatory to check Chinese entities from bypassing rules to acquire companies in India following the Covid-19 pandemic and border skirmishes between the two countries.
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