India has become a key growth market for cars. The “Make in India” government push is a factor. Green energy transformations and brands are key. Makers look to India as not saturated by brands for electrics. BYD (Chinese “Bring Your Dreams”) wants to grow. Traditional makers push their history coming to India and existing jobs. Concerns for manufacturers and governments have not been solved.
The Indian government has not approved BYD’s application to invest up to USD$1B to expand their enterprises. India does not yet have a domestic electric vehicle manufacturer that is globally competitive. If this application does not go thru the “Make in India” push will continue to seek an acceptable foreign direct investor for the EV/NEV technology.
Traditional brands in India, like Chinese SAIC’s MG, are also looking to sell larger volumes. VW Group, Mercedes, Korean, and Japanese brands also seek to expand operations and sales. In the global push for a green energy transformation of vehicles none of these makers has offered an application for large scale manufacturing in India. The Indian government wants to create large job growth and export markets in return for access to the growth market.
In our next release EkaLore looks at the Chinese BYD offer to expand manufacturing in India.
For more analysis and notes see more at http://www.ekalore.com
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