What was the total investment amount proposed by BYD for the factory in partnership with Megha Engineering and Infrastructures in India?
a) $500 million
b) $1 billion
c) $2 billion
d) $5 billion
b) $1 billion
c) $2 billion
d) $5 billion
Details:
India has turned down Chinese electric vehicle (EV) manufacturer BYD's $1 billion proposal to set up a factory in partnership with Megha Engineering and Infrastructures in Hyderabad. An investment proposal by BYD was submitted to the Department for Promotion of Industry and Internal Trade (DPIIT) which said the Chinese company would build electric cars and batteries in India. It also included plans to up charging stations, research and development, and training centres in the South Asian country.
