China urges India to stabilise ties for mutual benefit after BYD’s failed US$1 billion EV factory bid

Just days after India rejected Chinese carmaker BYD’s US$1 billion bid to set up an electric vehicle factory in the country citing security concerns, Beijing’s top diplomat urged New Delhi to stabilise bilateral ties for the benefit of both sides.

Wang Yi met with Ajit Doval, India’s national security adviser, on the sidelines of a gathering of Brics members in Johannesburg on Monday, calling for policies to “enhance strategic mutual trust” and “focus on consensus and cooperation”, a Chinese foreign ministry readout said.