"Security concerns with respect to Chinese investments in India" led officials to decline the EV-maker's proposal, a report by the Economic Times said

India is concerned that tie-ups like the one proposed by BYD are “controlled by the foreign partner” and reduce the partnering Indian company to a “dummy entity”

The investment proposal also includes a plan by BYD to set up charging stations in India and build research and development and training centres

The country’s domestic brands, like BYD, Nio and Xpeng Motors, are now taking on and beating established global names such as VW and Toyota at home

Experts say latest data coming in from China pointed to the world’s biggest EV market recovering from a slump and getting “back on the fast-track"

The American investment company sold 2.53 million shares in the EV-maker and has now reduced its stake from 20.49% in August last year to 8.98%

Purchases of Nio models slid in April and May as a price war intensified, with Tesla's China sales more than five times Nio's over the same period

The Chinese electric vehicle maker said its new NEV brand symbolizes “the pursuit of the transformative rise and the exploration of digital realms”

This is the second time in just over a month that Buffett’s investment group has reduced its stake in China’s largest EV-maker

The Shenzhen outfit's hybrids and fully electric vehicles outsold Volkswagen-branded cars in the first three months of the year in China

Ford-brand sales were down in China in the first quarter and chief executive Jim Farley said the country’s domestic brands were getting it right

The plant will produce 50,000 tonnes per year of lithium iron phosphate (LFP) for cathodes, using lithium carbonate as an input