India may block BYD's US$ 1 billion EV plan

India is not keen on allowing Chinese electric vehicle maker BYD to set up shop in the country owing to security concerns, according to a report in the Times of India. BYD reportedly has submitted a $1 billion investment proposal to build electric cars and batteries in India in partnership with a local company.

"There are growing concerns in the government that many joint ventures "arranged" by the Chinese companies — some of which get state support — are "heavily weighed and controlled by the foreign partner", while the Indian company is more or less a dummy entity, with not much control on technology, decision-making, and other critical know-how," the Times of India claimed.