World's largest EV maker BYD to enter Indian mainstream market, with an electric SUV

BYD, the world's largest electric vehicle company by volumes, plans to enter the Indian mainstream EV market with an electric SUV in the upcoming festive season.
The Warren Buffet-backed Chinese electric vehicle manufacturer, which overtook Tesla this year, will assemble vehicles in Sriperumbudur, near Chennai.

Moreover, BYD will exhibit at the upcoming Delhi Auto Expo in 2023, demonstrating the seriousness of its India foray. During the next two years, it plans to sell 10000 assembled vehicles in India as well as explore setting up of a local manufacturing facility.

There will be a wide range of products on display, including hatchbacks, sedans, and SUVs, as well as the famous Blade battery technology, which has a range of over 450-500km.
According to Sanjay Gopalakrishnan, Senior Vice President of BYD India's Electric Passenger Vehicle Business, the company plans to enter the mainstream EV market with its Atto3 SUV during the upcoming festive season given the strong response to its E6 MPV. “We are getting significant traction for our vehicles in India from corporate customers, we want to expand further into the personal buyer's space with our SUVs. We are planning to showcase our vehicle architecture and battery technology at the upcoming Delhi Auto Expo, with a long-term vision of participating in the growing EV business in India,” added Gopalakrishnan.

The Atto3 will compete with the Hyundai Kona EV and M G Motor's ZS EV in the fast-growing EV market. It is expected to cost around Rs 25 lakh and have a range of over 450-500 kilometres on a single charge.

Several Chinese vehicle makers have struggled to set up manufacturing bases due to the government of India's extra screening of investments from the neighbouring country.

In response to a specific question about obtaining clearance from the Indian government to expand its business in the country, Gopalakrishnan said the company does not require any clearance for its existing infrastructure.

He added that local manufacturing is part of phase 2, which will be explored based on the responses to its assembled models - E6, Ato3 and upcoming new models that are likely to be showcased at the Auto Expo. “Our long term vision is grab 10-15% market share of passenger electric vehicle space by 2030, but how we reach that is yet to be defined. The initial target is to sell 10000 Evs for which we have a set up, next set for local manufacturing will be explored next year,” he said.

After introducing its E6 MPV to corporate and fleet customers in the last year, BYD has already sold close to 450 units, and the company expects to sell more than 1000 by the end of the year. With corporate fleets converting from ICE to EV, and ESG goals becoming eminent, BYD's vehicles have generated significant interest.

Because of BYD's well-established Blade battery technology, its electric vehicles have a range of over 450-500 kilometres.

BYD already has a joint venture with Toyota Motor Corporation for the same EV powertrain. In 2007, BYD entered the Indian market for the production of electronic parts, batteries, and mobile phones in Oragadam. As of 2016, it supplies batteries and bus chassis to Olectra from its Sriperumbudur assembly plant.

At the same facility, BYD will assemble its passenger vehicles. By the end of the year, the company will hire close to 100 people and increase capacity to 10000 electric vehicles.

There are currently 12 dealerships across 12 cities, which will expand to 18 cities with 24 outlets within 6 months. Depending on the traction of its EVs, BYD India will look to expand its dealership network.