India rejects BYD's proposal to build a $1 billion plant because of safety concerns

Thanks to CTOnews.com netizen MissBook for clue delivery! CTOnews.com July 23 news, according to the "Economic Times" reported that India rejected BYD company and Hyderabad Mega Engineering and Infrastructure Co., Ltd. to invest in India 1 billion U.S. dollars to set up a factory proposal.

India's Ministry of Commerce, Ministry of Industry and Internal Trade Promotion (DPIIT) has sought comments from other ministries on the investment proposal. "Security concerns about Chinese investment in India were raised during the deliberations," said an Indian official. "

CTOnews.com previously reported that BYD and Hyderabad Mega will form an electric vehicle joint venture, and the long-term plan is to produce BYD's full range of electric vehicles in India, including all models from hatchbacks to luxury cars.

If India's investment plan is approved, BYD will officially enter all major global auto markets except the United States, Reuters reported.