India may approve $370 million Chinese-linked auto investment, first in nearly a decade

India is poised to approve a significant investment from Horse Powertrain Ltd., a hybrid-engine venture backed by China's Geely and France's Renault. The investment, valued at $370 million, is one of the largest Chinese-linked manufacturing investments in years and will see advanced hybrid powertrains built in India. This move aligns with India's recent policy shifts to boost local manufacturing and highlights the growing demand for hybrid vehicles. The investment is expected to be used to build advanced hybrid powertrains, potentially at Renault's Chennai plant. This development is a significant step forward for India's manufacturing sector, which has been seeking to attract foreign investment and boost local production. The growing demand for hybrid vehicles in India has created a need for advanced powertrains, and this investment is expected to help meet that demand. The partnership between Geely, Renault, and Horse Powertrain Ltd. is a key factor in this investment, bringing together expertise and resources from multiple countries. India's policy shifts to boost local manufacturing have created a favorable environment for foreign investment, and this deal is expected to be one of the first major investments in the country's manufacturing sector in nearly a decade.