China's BYD seeks approval for $1 billion plan to build EVs, batteries in India
BYD is seeking approval from Indian authorities to build a battery factory and an electric vehicle assembly plant in the country.
The combined cost of the project is $1 billion.
The company aims to produce electric vehicles and batteries in India.
BYD is looking to tap into India's growing demand for electric vehicles.
The company is in talks with several Indian states to set up the facilities.
The project is expected to create thousands of jobs in India.
BYD is one of the world's largest electric vehicle makers.
The company has partnerships with several automakers, including Toyota and Daimler.
India is aiming to have only electric vehicles on its roads by 2030.
Several other companies, including Tesla and Hyundai, have also announced plans to invest in India's electric vehicle market.
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