Chinese auto & electronics major BYD to invest Rs 2,800 cr in Tamil Nadu
China-based automobile and electronics major BYD is planning to invest around Rs 2,800 crore in Tamil Nadu. The deal is one of the nine MoUs worth Rs 5,027 crore that companies have signed with the state government. Hero Group-backed Ather Energy's Rs 600 crore-plus plan to establish a manufacturing facility for e-Vehicles is among the other large investment commitments.
The nine MoUs exchanged between the State and various firms have combined investment commitments worth Rs 5,027 crore and a potential to create 20,351 jobs.
BYD India Pvt Ltd, the domestic arm of the Chinese parent, plans to set up a unit for manufacturing phone components. The proposed facility is likely to provide employment to 11,500 persons.