After submitting a proposal to the government in India alongside its local joint venture partner this past spring, Build Your Dreams (BYD) is reportedly shelving a $1 billion investment following opposition from the government in New Delhi over security concerns relating to such a large investment from a Chinese company.
Since its inception in 1995, BYD has quickly risen through the ranks as a major global manufacturer, most recently excelling in electric vehicles and the batteries that power them. The company is quickly expanding the availability of its EVs beyond China into new markets, like Japan and Europe.
Additionally, India has remained a strong territory for BYD since 2007, which began as a venture in building batteries and cellphones before being bolstered by a joint venture with local manufacturer Megha Engineering and Infrastructures in 2013.
This relationship led to the establishment of an assembly facility for BYD’s Atto 3 for the local market in India this past December. Just recently, however, Reuters reported that the Chinese automaker had submitted a proposal to government ministries in India to invest $1 billion to jointly build batteries and EVs in the country alongside Megha.
Now, a mere two weeks later, Reuters is reporting that BYD has soured on the deal and has let its joint venture partner in India know it may take its money elsewhere.
The Atto-3 SUV, which launched in India in 2022 / Credit: BYD India
BYD to pull $1B investment after India’s security concerns
Two people with knowledge of the discussions state that BYD has let Megha know it intends to shelve the massive investment, citing criticism from New Delhi.
After submitting the aforementioned joint venture proposal this past April, at least two officials from three Indian ministries, including finance and external affairs, expressed concerns over security from India accepting an investment from China’s BYD.
BYD has declined to comment on the status of its potential investment in India but, as of Thursday, had not officially withdrawn its proposal from the government ministries. The two sources state Megha Engineering has urged BYD to remain patient on the situation before dropping the investment altogether, looking to seek clarity from the politically charged statements from those government officials.
BYD’s original timeline was to begin EV production in India by 2025, but the situation remains in limbo, to say the least.
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Honda is set to pull the covers off a new electric motorcycle on September 2, teasing the upcoming reveal with camouflaged images on the brand’s social media. The upcoming unveiling is sparking speculation that this could be one of the first models in Honda’s long-promised push into more powerful motorcycle electrification.
The teasers show the shape of a motorcycle with fairly conventional proportions, including a two-up seat, standard riding posture, single-sided rear swingarm, and no visible foot-forward scooter ergonomics, which suggests this will be an honest-to-goodness motorcycle rather than an e-scooter. The bodywork looks sporty but subdued, lacking the aggressive fairings of a supersport, which may point to a street-oriented commuter or naked bike. In fact, it looks a lot like the EV Fun Concept unveiled by Honda last October in Milan, seen above.
Street commuter bikes are common among electric motorcycle makers. They capitalize on the strengths of electric drivetrains without requiring the long range associated with touring motorcycles. It’s a move we’ve seen play out time and again among brands like Can-Am, Kawasaki, Ryvid, and others who have produced smaller, urban-focused electric motorcycles in the last few years.
This aligns with Honda’s previously stated plans. The company announced years ago that it would introduce at least 10 electric motorcycle models by 2025, ranging from commuter vehicles to high-performance machines. So far, its progress has been modest, with small-scale launches focused around electric scooters and prototype testbeds like the CR Electric motocross bike.
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Whispers from Honda have hinted at an upcoming street bike, and some observers believe this new model could be the production version of that EV Fun Concept from EICMA Milan Motorcycle Show. Whether it uses Honda’s swappable batteries like the EM1 e: remains to be seen, but it’s likely to target daily riders in urban markets rather than aiming for long-range touring or high-speed sport performance.
Honda has been characteristically cautious in its entry into the electric space, especially compared to startup rivals and brands like Zero, LiveWire, and Ryvid. But the September 2 reveal may signal a new chapter as the world’s largest motorcycle manufacturer finally takes electric motorcycles more seriously.
We’ll be watching closely to see what Honda brings to the table, especially as legacy brands start feeling pressure from both regulators and riders to electrify their lineups.
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With its tire-blistering acceleration and record-setting performance, the Xiaomi SU7 Ultra has been getting attention throughout the auto industry, impressing everyone who’s seen it. That “everyone” now seems to include the OG supercar brand, itself.
CarNewsChina posted pictures from a Weibo user that reportedly show a Xiaomi SU7 Ultra exiting the storied Ferrari factory in Maranello, Italy. According to a Chinese blogger going by 西米露在博洛尼亚 (which seems to translate to “Sago Dessert in Bologna”), the prancing horse brand is actively benchmarking the Chinese hypercar for its own upcoming EV.
The SU7 Ultra was definitely coming from inside Ferrari’s facility. After verification, we learned this specific vehicle was officially purchased by Ferrari for testing, and the development of their next-generation electric platform.
The Xiaomi SU7 Ultra made its debut last year, promising 1,548 hp, sub 2.0-second 0-60 mph times, and a top speed well over 200 mph – all at a price lower than a Tesla Model S Plaid or Porsche Taycan Turbo GT. The car sold out almost immediately after it was unveiled, racking up some 50,000 orders almost overnight.
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The new electric benchmark
Xiaomi SU7 Ultra at Fiorano; via Weibo user Piniluoshan.
In the automotive world, “benchmarking” is a process in which car companies systematically tear down each others’ competitive products to compare everything from sound insulation, vehicle ride and handling, component materials, and even manufacturing methods against their own or against other industry leaders. The goal is to evaluate performance, cost, quality, and other key metrics, effectively figuring out “where they stand” in the market.
Featured image via Xiaomi; sources throughout the post.
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We’re finally getting our first teases of the upgraded 2027 Chevy Bolt, built on GM’s battery/motor platform formerly known as Ultium. So far, so good for the vehicle, which will be revealed later this Fall.
Chevy took to social media today to tease the 2027 Chevy Bolt, saying, “You asked, we listened. The #ChevyBolt is back and better than ever. More this fall. 👀”
Chevy ended the original Bolt program with the 2023 model, which was loved by a loyal group of customers (including myself). Some of the major gripes, including charging speed and rear brake lights, already look to be addressed. Also, a new more aggressive fascia is debuting.
Hopefully, the new Bolt will have improved charging speeds over and above the 54kW that previous Bolts adhered to. One possible downgrade is that the old Bolt’s amazing wireless CarPlay/Android Auto system will likely be replaced by GM’s move to Android’s built-in experience. For a few years, the Chevy Bolt was the most affordable long-range EV, and it won our 2022 Electrek car of the year for its versatility and price.
I would, of course, like to see the new Bolt as a hot hatchback, but GM CEO Mary Barra has hinted that it will likely take more of the EUV’s SUV form factor. Things like AWD options, SuperCruise, pricing, power and range are yet to be revealed, but stay tuned to Electrek for the latest on Bolt developments.
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