BYD India which is a part of Chinese Firm plans to cover 90% of EV market in India this year
BYD, a leading Chinese electric vehicle (EV) manufacturer, is setting ambitious goals to dominate the Indian EV market by targeting a 90% market share by year-end.
The company, already a frontrunner in the luxury EV segment over Rs 30 lakh, introduced its electric sedan, SEAL, with prices ranging from Rs 41 lakh to Rs 53 lakh. Additionally, BYD India is in the process of obtaining homologation certification for its electric SUV, Atto 3, from the Automotive Research Association of India (ARAI), aiming to surpass the current import cap of 2,500 units.
Homologation ensures that vehicles meet the government’s roadworthiness standards for production or import. Sanjay Gopalakrishnan, Senior Vice President of Electric Passenger Vehicle Business at BYD India, expressed the company’s strategy to expand its presence across major towns and tier I cities, focusing on areas with high EV sales and growth potential.
Currently, BYD India boasts a network of 24 showrooms in 21 cities, offering two models: the ATTO 3 and the e6. The company’s leadership in the luxury EV market is attributed to its focus on metros and tier I cities, with plans to extend into tier II cities with more affordable models.
Our target is that we cover 90 per cent of the EV market in India. That is what we are planning to do by this year, which means we will be present in major towns, and tier I cities. Wherever we see the electric vehicle penetration is high, wherever the electric vehicle sales are, where it is growing,”
BYD India, Senior Vice President of Electric Passenger Vehicle Business Sanjay Gopalakrishnan
Despite setbacks, such as the government’s refusal to approve a $1 billion manufacturing plant in Hyderabad, BYD remains committed to meeting demand within the regulatory framework, focusing on the high-end market segment. The company is optimistic about future expansion plans and the potential for local assembly to enter more competitively priced market segments.
BYD India imports its SEAL sedan under the Economic Commission for Europe (ECE) vehicle certification, while the Atto 3 electric SUV is sold under the GSR 870 CIRT certificate, limiting imports to 2,500 units per model. The anticipated ARAI homologation certificate for the Atto 3 will eliminate this restriction, allowing for increased imports.
