BYD Eyes Double-Digit Growth in India, Keeps Premium Focus; Hybrids Under Evaluation

BYD is targeting double-digit growth in India in 2026 while continuing to focus on the premium segment, even as it evaluates the potential introduction of plug-in hybrid vehicles in the market.

Speaking at the inauguration of PPS Motors’ BYD showroom in Moti Nagar, Delhi, Rajeev Chauhan, Head, EV Business, BYD India, said the company will expand its product pipeline for India, with multiple models at different stages of readiness.

“We currently have four models globally that are relevant for India. Two are already certified by Indian authorities,” Chauhan said. On the growth outlook, he added, “For 2026, we expect at least double-digit growth. That is the minimum expectation, and we will reassess based on how the market evolves.”

Premium-First Strategy

BYD continues to position itself firmly in the premium EV space in India, with models such as the Seal driving volumes and brand visibility. “In the near term, we will continue to focus on the premium segment. The Seal has been one of our strongest performers, and demand remains robust,” Chauhan said.

Despite increasing competition and new entrants targeting the electric passenger vehicle space, the company indicated it is not looking to dilute its positioning in the short term.

Hybrids on the Radar

While BYD has so far maintained an EV-only portfolio in India, the company acknowledged that plug-in hybrid vehicles remain a potential future option. “Globally, BYD has strong capabilities in plug-in hybrids. We are closely watching how the Indian market evolves, and we have the flexibility to introduce them if required,” Chauhan said.

The statement comes at a time when several automakers are recalibrating their electrification strategies globally, with hybrids gaining renewed traction as a transition technology.

No Clear Timeline on Localisation

On the long-discussed possibility of local manufacturing or domestic partnerships in India, BYD maintained a cautious stance. “We are working on future plans, but at this point, we cannot share timelines on localisation or domestic partnerships,” Chauhan said. The company currently relies on imports for its India operations, with volumes still relatively modest but growing.

Customer Profile Evolving

From the dealer perspective, PPS Motors Managing Director Rajiv Singhvi said the EV customer base in India has evolved significantly over the past few years.

“When we started, there was excitement but also anxiety around range, charging time, and resale value. Over time, those concerns are reducing as the ecosystem improves,” Singhvi said. He added that a large share of customers are currently buying EVs as an additional vehicle.

“A significant number of buyers are opting for EVs as a second or third car. We are also seeing younger buyers and aspirational customers entering the segment,” he said. According to Singhvi, the EV passenger vehicle segment has been growing at around 75–80 per cent, supported by improving charging infrastructure and increasing consumer awareness.

“Earlier, aspirational brands were largely German luxury marques. We are beginning to see BYD becoming an aspirational choice for a new generation of buyers,” he said.

Measured Expansion

The new showroom in Moti Nagar marks BYD’s continued expansion in key urban markets, with a calibrated approach to network growth. “Delhi is one of the most important automotive markets in India. We wanted to enter with the right location and a strong long-term partner approach,” Singhvi said.

BYD indicated that its India strategy will remain measured and demand-led, with product introductions, network expansion, and potential new technologies aligned closely with market evolution. As Chauhan put it, “We are taking development step by step, based on how the market grows and matures.”