 "Aiming to retain pole position in premium EV segment, says BYD India")
Chinese car maker BYD is aiming to retain pole position in India’s electric vehicle (EV) segment priced above Rs 30 lakh, Senior Vice-President of Electric Passenger Vehicle Business, Sanjay Gopalakrishnan, told Business Standard on Tuesday.
BYD India launched its electric sedan Seal, priced between Rs 41 lakh and Rs 53 lakh.
When asked about the logic of launching a sedan in a country where sport utility vehicles (SUVs) are increasingly becoming popular, Gopalakrishnan said: “We have multiple SUVs globally, but we thought that Seal is the right product for the Indian market. It has been globally acclaimed. It is a competitor of the Tesla Model 3. Indian consumers know about Model 3, so we thought let us bring a Model 3 competitor to India that also gives a taste of our technology and performance.”
“We are in the Rs 30 lakh plus EV (electric vehicle) category, with all our products and we want to maintain our premiumness and leadership in that market segment,” he elaborated.
At present, BYD has 24 dealerships across the country. The company plans to cover 90 per cent of the market where EVs are popular, Gopalakrishnan added.
Last year, the Indian government declined a $1 billion investment offer from the Chinese electric car manufacturer, which aimed to establish an EV manufacturing facility in partnership with Megha Engineering and Infrastructures Ltd (MEIL) in Hyderabad.
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When asked why the investment offer was rejected, Gopalakrishnan said, "I cannot comment anything on that right now."
BYD India is currently pursuing homologation certification from ARAI for its electric SUV Atto 3, which is aiming to remove the import volume restriction of 2,500 units.
Homologation involves certifying vehicles for roadworthiness, according to government-specified regulations applicable to all vehicles manufactured or imported to the country.
The company, which entered the Indian market in 2022, currently sells two electric cars in India -- Atto 3 and e6, a multi-utility vehicle. Seal is the company’s third offering.
In 2022 and 2023, the company sold 351 and 2,044 units respectively, in India.