The senior official of Chinese electric vehicle manufacturer BYD disclosed plans to capture 90 per cent of India’s electric vehicle (EV) market by the end of the year, solidifying its leading position in EVs priced above Rs 30 lakh.
BYD India recently introduced its electric sedan SEAL, priced between Rs 41 lakh and Rs 53 lakh, and is actively pursuing homologation certification from ARAI for its electric SUV Atto 3. This certification will remove the restriction on the import volume of 2,500 units.
Homologation is the process of certifying vehicles for roadworthiness under government-specified rules for all vehicles manufactured or imported into the country.
According to BYD India’s Senior Vice President of Electric Passenger Vehicle Business, Sanjay Gopalakrishnan, the objective is to establish a presence in major towns and tier I cities, focusing on areas with high electric vehicle adoption and sales growth. Presently, BYD India operates 24 showrooms across 21 cities, retailing two models – the BYD ATTO 3 and the e6.
Luxury EVs priced above Rs 30 lakh constitute a significant portion of BYD India’s market share. The company aims to bolster its position in this segment with the introduction of the BYD SEAL sedan. However, the rejection of the company’s proposal to establish a USD 1 billion manufacturing plant in Hyderabad has not deterred its operations. BYD India is adhering to government regulations while striving to cater to market demand within the luxury EV segment.
Regarding local assembly in India to enter the lower-priced EV market segment, Gopalakrishnan refrained from commenting, stating that plans will be formulated when the time is right.
BYD India currently 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, which imposes a cap of 2,500 units per model for import. Upon receiving homologation certification from ARAI, the restriction on import volumes will be lifted, allowing BYD India to import more vehicles. ARAI certification for the Atto 3 is anticipated soon.
