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Chinese BYD plans 50pct localisation for eBuses in 2 years

Auto News - Published on Mon, 23 Apr 2018

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ET reported that Chinese e-vehicles giant BYD, which has won major orders in India, does not get any subsidy in its country, its Indian partner Goldstone Infratech said, refuting Indian rivals’ claims that they face unfair competition. Additionally, a Goldstone Infratech spokesperson told ET, the company will be able to localise half the components for electric buses being built for India, in the next two years.

He said that “BYD is a global company, widely held and backed by marquee investors like Warren Buffett and Samsung Electronics, with manufacturing facilities across the globe. There are no export subsidies given on Chinese electric vehicle (EV) manufacturers. Such concerns are unfounded.”

The spokesperson said that “Goldstone-BYD buses comply with all localisation norms under Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) policy and Make in India. We expect to ramp up localisation component above 50% in next two years.”

A government official said Ashok Leyland has localisation of 37%, while Tata Motors is at 35%. Batteries that comprise a major cost of EVs are not manufactured in India and companies import them from the likes of China, Japan and South Korea.

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Posted By : Amom Remju on Mon, 23 Apr 2018
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