China's BYD studies building of USD2b factory in India

(MENAFN) BYD, the Chinese electric automaker, prepares to setup a plant for making batteries in India in partnership with BK Modi's Smart group and the overall investments in the scheme could be more than USD2 billion.

The two companies have already delivered two electric buses to the Delhi government for free trial, plus they're in discussions to offer all kinds of electric vehicles, starting with mass-transport solutions such as buses.

BYD, one of the world's largest suppliers of electric vehicles which also has a tie-up with Germany's Daimler for luxury electric cars, feels that worries around rising pollution will lead to an extensive adoption of clean-energy vehicles.

Meanwhile, Modi stated that his company will start with a USD100 million investment into the project, adding that future investments will be met through internal accruals not to mention financial partners.