China’s BYD Wants to Build Cars in India, But Has No ‘direct’ Signal of Investment Rules Easing

Chinese automaker BYD is looking to expand its presence in India by manufacturing cars in the country, but has not received any direct signal from the Indian government on easing investment rules for Chinese businesses. The company has submitted a $1 billion investment proposal to build electric vehicles in India, but approval is still pending due to increased scrutiny of Chinese investments following a 2020 border clash. BYD is targeting the premium segment of the market with its imported EVs while waiting for approval, and recently launched a seven-seater family car priced between $32,000-$35,500. The company sold about 2,300 cars in India in 2023 and expects to surpass that this year. India’s EV market is small but growing, with the government aiming for EVs to make up 30% of car sales by 2030.