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BYD Reportedly Evaluating Expansion Plans in India, Including Promoting Local Assembly
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BYD COMPANY (01211.HK) is contemplating to expand its market in India, including promoting local assembly to meet the increasing demand in the region, Bloomberg, citing people with the knowledge of the matter, reported. Due to India's import quota restrictions, BYD is evaluating local assembly in India and is committed to obtaining local safety and regulatory certifications for more vehicle models, sources divulged. However, India's previous rejection of BYD's plan to build a complete factory in the country has prompted the company to consider assembling semi-finished parts locally. In light of robust demand in India, dealers have already hoarded up hundreds of orders, and BYD is reassessing methods to sell more cars in the Indian market, people with the knowledge of the matter said. AASTOCKS Financial News Website: www.aastocks.com |
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