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BYD, a Chinese electric vehicle manufacturer that Warren Buffet backs, will launch a Born Electric SUV to the Indian market in the fourth quarter.
According to the top official of the company, deliveries will begin in January.
Since 2021, BYD has sold the E6 MPV on the Indian market. BYD sold 400 units last year of the E6 MPV since its launch. BYD, which surpassed Tesla in July as the largest EV manufacturer, will assemble the new model at Sriperumbudur, near Chennai.
Aljazeera reports that the company was founded in 1995 and has very little recognition in China. However, it sold 641,000 pure electric hybrid vehicles in 2022’s first half – almost 80,000 more than its Texas-based competitor.
BYD’s rise is despite years and years of naysaying regarding the safety and quality of China’s electric cars. This was accentuated by the staggeringly high recall rates in the industry, which have sometimes exceeded 10%.
BYD’s popularity is due to its lower cost lithium iron phosphate battery prices. Models are offered at lower prices than foreign competitors.
BYD Auto’s Qin plug-in hybrid was ranked the most popular plug-in electric vehicle in 2014. This was launched in the third quarter of 2013. The car ranked 7th among the top 10 worldwide plug-in vehicles and was a popular choice in China.