The company will explore local manufacturing in the second phase, as it eyes 40 percent market share by 2030.
BYD, the world’s largest electric vehicle (EV) maker, aims to break into the top three EV sellers in the country in the next couple of years.
With a long-term vision of grabbing 40 percent of the EV market in India, BYD is also exploring the possibility of a deeper manufacturing footprint in India, which is likely to come up in 2025.
The maker of E6 and Atto3 has unveiled the Seal EV saloon at the AutoExpo 2023, which is set to raise the premium positioning of the brand in the Indian market.
Sanjay Gopalakrishnan, Senior Vice President of Electric Passenger Vehicles of BYD India told Autocar Professional the brand has been received very well in the marketplace and it is already sitting on a booking of 2,000 units for Atto3.
In order to cater to the rising demand, the company has added a second shift, which will take the monthly capacity up to 1,200 units.
The company plans to sell 15,000 EVs in 2023 and depending on the demand it is prepared to add a third shift to sell 25,000 vehicles in 2024.
“The short-term plan is to be amongst the top three EV makers in India with the goal of being a leader in the country by the end of the decade. At present, the focus is on utilising the current capacity, as we are near full capacity, we will look at a production base in the Phase Two,” added Gopalakrishnan.
With the All-New e6 and BYD Atto 3 already available in the Indian market, BYD Seal will be the third passenger EV released within two years and it will be launched in India by Q4 this year, the company said. Renowned for its Blade battery technology’s range and safety, the Seal EV is based on the new Cell to Body Technology.
“We are a technology company and we continue to introduce globally successful models into India. With the Seal sedan we further raise the bar, as it is a based on our CTB (cell to body) technology, which allows the battery to be integrated into the body. So the battery becomes an integrated component of the chassis, substantially improving the vehicle safety, stability, handling, and performance,” said Gopalakrishnan.
On its maiden participation at the AutoExpo, Gopalakrishnan said, “The Indian AutoExpo is an extremely significant platform for us. With the unveiling of the electric luxury sedan BYD Seal and the launch of the Limited Edition of BYD Atto 3, Blade Battery and the e-Platform 3.0, we reiterate our commitment to contribute to the growth of the Indian electric vehicle segment with future EV technologies.” The company also announced the delivery of the first batch of BYD Atto 3.
BYD India expanded its network to 24 showrooms across 21 cities in just one year and it plans to double its presence to 53 showrooms within 2023.
Globally in 2022, BYD's cumulative sales of passenger vehicles were over 1.86 million units, a year-on-year increase of 155.1 percent. So far, BYD has sold more than 3.37 million new energy vehicles. With its expanding global presence, BYD is working towards its motto of Cool the Earth by 1 °C.
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