Chinese car maker BYD plans to cover 90% of EV market in India this year

BYD aims to dominate India's luxury EV market, expanding to major cities with new models.

Chinese electric vehicle maker BYD plans to cover 90% of the EV market in India by the end of the year as it strengthens its leadership position in EVs priced above ₹30 lakh category, a senior company official said on March 5.

BYD India, which launched its electric sedan SEAL priced between ₹41 lakh and ₹53 lakh, is working to achieve homologation certification from ARAI for its electric SUV Atto 3 which will lift the restriction on import volume of 2,500 units.

Homologation is the process of certifying vehicles for roadworthiness under rules specified by the Government for all vehicles made or imported into the country.

"Our target is that we cover 90% 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," Sanjay Gopalakrishnan, Senior Vice President of Electric Passenger Vehicle Business, BYD India, told PTI here on the sidelines of the launch.

At present, BYD India's passenger vehicles division has a dealership network with 24 showrooms across 21 cities selling two products in its portfolio - the BYD ATTO 3 and the e6.

Passenger EVs in India are currently sold in metros and Tier-I cities currently and are gradually covering Tier-II in lower-priced models.

"If you look at the ₹30 lakh-plus luxury EV sales, we are the market leader there. So with the BYD seal, we are adding one more car to that category. We want to be the market leader in that segment," Mr. Gopalakrishnan said.