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Market: China-listed BYD eyeing 40% of the Indian EV market by 2030

Fiinews by Fiinews
January 13, 2023
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Encouraged by BYD ATTO 3 bookings, Gopalakrishnan is set for first deliveries from Jan 2023

BYD, the global leading new energy vehicle (NEV) manufacturer listed on the Hong Kong and Shenzhen Stock Exchanges, is eyeing 40% of the Indian EV market by 2030, and plans to sell 15,000 units of BYD ATTO3 next year while expanding showroom network to 53 this year.

“Next year, we plan to sell 15,000 units of BYD ATTO 3 and All-New e6 with a long-term vision to take up 40% of the Indian EV market by 2030. The bookings of BYD ATTO 3 have been encouraging, and we are all set to start the first deliveries from January 2023,” said Sanjay Gopalakrishnan, Senior Vice President of Electric Passenger Vehicles of BYD India.

Within a year, BYD has expanded its network to 24 showrooms across 21 cities in India and will double the presence to 53 showrooms within 2023, he said at the launch of BYD’s new luxury model at the Auto Expo in New Delhi.

“With the unveiling of the electric luxury sedan BYD Seal, the launch of the Limited Edition of BYD ATTO 3, and the display of the Blade Battery, e-Platform 3.0, we resonate our commitment to contribute to the growth of the Indian electric vehicle segment with EV technologies,” he said on 12 Jan 2023.

“The Indian Auto Expo is an extremely significant platform for us, and we are pleased to be able to showcase our products and technologies through our technological innovations for a better life,” he underlined.

BYD Seal, whose sales have exceeded 50,000 within 5 months in China, is planning to launch sales in India by Q4 2023. As the All-New e6 and BYD ATTO 3 are already available in the local market, BYD Seal will be the third passenger EV released in India within two years, he stressed.

At the Auto Expo 2023, BYD’s display space was sectioned into 4 zones, which showcase not only its current and new vehicle products but also technological innovations that substantially enhance the performance and safety of vehicles.

These newly-unveiled products and innovation displayed echo the Indian-specific theme at the convention: Technological Innovations For A Better Life.

BYD Seal is one of BYD’s latest luxury sedans equipped with its renowned EV platform (e-Platform 3.0) and revolutionary ultra-safe Blade Battery. Also, it is the first vehicle equipped with CTB (cell to body) technology, substantially upgrading the vehicle’s safety, stability and handling, giving the vehicle an overall finer performance.

Founded in 1995 as a rechargeable battery maker, BYD now boasts a diverse business scope covering automobiles, rail transit, new energy and electronics, with over 30 industrial parks in China, the United States, Canada, Japan, Brazil, Hungary and India.

From energy generation and storage to its applications, BYD is dedicated to providing zero-emission energy solutions that reduce global reliance on fossil fuels. Its new energy vehicle footprint now covers 6 continents, over 70 countries and regions, and more than 400 cities. Listed on Hong Kong and Shenzhen Stock Exchanges, the company is known to be a Fortune Global 500 enterprise that furnishes innovations in pursuit of a greener world. fiinews.com

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Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

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