BYD In Advanced Talks To Make EVs In India

- Advertisement -
- Advertisement -
  • BYD is expected to unveil its investment plans by the end of 2019 or in early 2020
  • BYD is in advanced talks with its Indian partner, Olectra Greentech Ltd, to either form an equity joint venture or invest in a stand-alone entity in the country
  • BYD’s investment would mark a deepening of Chinese presence in India’s automobile market billed to become the world’s third largest by 2025

Warren Buffett-backed BYD Auto Co. Ltd, China’s biggest electric carmaker, is set to make a significant investment in India to develop and produce electric vehicles, said two people familiar with the matter to Mint.

BYD is expected to unveil its investment plans by the end of 2019 or in early 2020. The company is in advanced talks with its Indian partner, Olectra Greentech Ltd, to either form an equity joint venture or invest in a stand-alone entity in the country, the two people informed.

BYD currently has a technical alliance with Secunderabad-based Olectra for assembling BYD’s electric buses in Andhra Pradesh. It has also recently begun assembling lithium-ion cells at a factory in Chennai.

- Advertisement -

BYD’s investment would mark a deepening of Chinese presence in India’s automobile market billed to become the world’s third largest by 2025.

What’s happening globally?
Meanwhile, Great Wall Motors Co. Ltd, China’s largest SUV producer, has earmarked an initial investment of $1.6 million to open a subsidiary in India.

The burgeoning presence of Chinese companies come amid rising trade tensions with the US and also the fact that India with its large middle-class offers a long-term growth opportunity.

BYD, which is also one of the world’s top producers of lithium-ion batteries, is enthused by the Indian government’s commitment to electric mobility and potential of the Indian economy over the next few decades, said the two people cited above.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

5G RedCap To Transform IoT Module Shipments

0
Over 60% of IoT module shipments will originate from the Asian & Oceania region. Automotive sector is expected to be a significant driver. The...
XR Headset Quest 3, Meta

Global XR Headset Shipments See A Major Decline, Sony Rises

0
Sony grabbed a market share of 24% in 2023 up from 1% in 2022. Bulky form factor, and lag, hinder adoption by serious...

Buzz

Tenstorrent- RISC V cores

MosChip Collaborates With Tenstorrent For Advanced RISC-V Cores

0
Tenstorrent has selected Moschip due to their tape out expertise in design services. India’s MosChip Technologies has announced partnership with computing company Tenstorrent and to...

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

RRP Electronics To Invest ₹5000 Cr In OSAT and R&D In Maharashtra

0
Cricket legend Sachin Tendulkar is investing in this semiconductor facility. Such celebrated personalities investing in the sector could be a great asset to the...

Important Sectors

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

RRP Electronics To Invest ₹5000 Cr In OSAT and R&D In Maharashtra

0
Cricket legend Sachin Tendulkar is investing in this semiconductor facility. Such celebrated personalities investing in the sector could be a great asset to the...

Subsidy Cuts Push E2W Makers Towards Budget Models

0
Electric two-wheeler manufacturers face reduced government subsidies and growing competition from established petrol vehicle brands in the upcoming fiscal year. These challenges compel them...

Nissan To Invest In Renault’s Ampere For EV Roadmap

0
The alliance aims to introduce both five-seater and seven-seater models for each brand in India. Japan's Nissan Motor has committed to investing in Renault's electric...

Manufacturing

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...