🇮🇳 India Set to Approve $370 Million Chinese-Linked Auto Investment in Major Policy Shift
India is reportedly set to approve a $370 million (around ₹3,100 crore) investment by Horse Powertrain Ltd., a hybrid engine venture backed by China’s Geely and France’s Renault. If cleared, it would be among the largest Chinese-linked manufacturing investments approved in India since the tightening of FDI rules following the 2020 India-China border tensions.
According to reports, Horse Powertrain plans to invest in Renault’s manufacturing facility in Chennai, where it will produce advanced hybrid powertrains and engines for Renault and Nissan vehicles. The investment is expected to be implemented in phases and could support the launch of the new Renault Duster Hybrid in India later this year.
The proposed approval comes after the Indian government eased certain foreign investment norms in March 2026 to encourage manufacturing while continuing security scrutiny of investments from neighbouring countries.
The development reflects India’s calibrated approach of attracting advanced manufacturing and technology investments while maintaining national security safeguards.
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