India Says No To BYD Factory Plan
In what may be a hint of troubles ahead for China as it seeks to become a global economic juggernaut, India has rejected a proposal from
India and China are not on the best of terms politically. Last year, Elon Musk proposed to sell Tesla automobiles manufactured in Shanghai in India. But that deal was contingent on India reducing its import duties on cars, which can be as high as 100%. India spurned Musk’s request, saying, in effect, if you want to sell electric cars in India, build them in India. Last week, Tesla put forth a proposal to do exactly that.
India’s Department of Commerce and Department for Promotion of Industry and Internal Trade had sought opinions from other departments on the BYD proposed venture, the report said.
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