BYD is rumoured to be in talks with Indian conglomerates Reliance Group and Adani to build a local manufacturing portfolio. Rajeev Chauhan, head of Electric Passenger Vehicles (EPV) Business at BYD India told our sister publication Autocar Professional in a recent interaction that "BYD is keen to start full-scale manufacturing. Until that is finalised, we will continue offering our global products to Indian consumers."
- BYD looking to start local production from 2025
- New Creta EV-rivalling SUV and plug-in hybrids also on cards
Local manufacturing, however, will not start before 2025. Until then, the company will focus on expanding its product portfolio and building brand awareness.
Currently, BYD operates a small assembly base in Tamil Nadu but relies heavily on completely built imports due to homologation challenges. The company was also fined $9 million by the Department of Revenue Intelligence in 2023 after failing to meet the conditions required for lower tax rates on imported car parts.
Imports have led to BYD India's volumes being low, with the company selling over 2,300 units in 2023 and 2,000 units until September 2024. Chauhan remains optimistic and expects a 40 percent growth in sales by the year-end with an aim to reach 10,000 units annually within the next two years.
BYD also plans to expand its product portfolio and increase its dealership network from 27 to 47 outlets next year, with a focus on entering tier II cities while maintaining a presence in major cities.
BYD future model portfolio
Having launched the Seal sedan earlier this year, BYD India has strategically added products to its portfolio, including a smaller battery version of the Atto 3 SUV, which has brought down its starting price. The company will introduce the eMax 7, a 7-seater MPV based on the existing E6, later this month.
"We are focusing on tapping into the MPV segment, which has doubled to almost 10 percent of the market in recent years. There is no MPV EV alternative yet, and we aim to capitalise on that. This expanded portfolio should help us grow from 5,000 cars to 10,000 or 15,000 vehicles in the coming years, laying a strong foundation for future growth," Chauhan added.
BYD India is also planning to introduce a new Creta-EV rivalling SUV that will be positioned under Rs 20 lakh, as well as new plug-in hybrid models. Read more on that here.
Also See:
Updated Citroen Aircross SUV launched at Rs 8.49 lakh
Hyundai Creta EV interior seen in production form