- By Divanshi Sharma
- Thu, 07 Mar 2024 05:19 PM (IST)
- Source:JND
BYD India: Chinese EV manufacturer BYD is aiming to capture a significant part of the Indian electric vehicle (EV) market. G Sanjay, Senior Vice President, BYD India stated that BYD is targeting over 85 per cent market share in the next three years. As the world's largest electric carmaker, BYD plans to expand its portfolio in India starting with the introduction of the Seal sedan. The BYD Seal is often compared to the Tesla Model 3, therefore, it is expected to attract EV buyers in India, especially since there are currently few options in the EV sedan segment.
BYD’s Future Plans In India
Post the launch of the BYD Seal sedan, BYD intends to introduce three more imported models that will be suitable to the Indian market. These models include the Tang seven-seat SUV, Seal U SUV and Sea Lion SUV which have been successful in international markets. The Seal sedan was recently launched in India at a starting price of Rs 41 lakh (ex-showroom). Apart from the newly launched BYD Seal, the manufacturer currently retails the BYD Atto 3 and BYD e6 in India.
BYD is also considering locally assembling its models in India, however, its specific timeline has not been revealed yet. Assembling EVs in India attracts only 5 per cent GST compared to 28 per cent for internal combustion engine cars, potentially making BYD's cars more competitive in the market. The brand has also applied for a trademark for the Dolphin hatchback, indicating its commitment to introducing more affordable EVs in the future. BYD views India as a crucial market for its global ambitions, aiming to make it the largest market in the region, surpassing even Japan. With new plants in Thailand and Hungary, BYD may also seek to establish a plant in India.