Chinese EV giant BYD refuses to invest under India’s EV Policy, opts for importing cars

BYD has shelved plans to set up a car factory in India, choosing an import-only strategy under the new EV policy. Despite the hefty customs duty on imports, the company plans to boost sales by 40% this year. Discussions on possible alliances with local corporations are ongoing, but BYD has not confirmed any developments yet.

Oct 8, 2024 - 23:30
Chinese EV giant BYD refuses to invest under India’s EV Policy, opts for importing cars

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BYD has shelved plans to set up a car factory in India, choosing an import-only strategy under the new EV policy. Despite the hefty customs duty on imports, the company plans to boost sales by 40% this year. Discussions on possible alliances with local corporations are ongoing, but BYD has not confirmed any developments yet.
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