At a time when Maruti Suzuki and Hyundai Motor India prepare to enter the mainstream EV market in 2025, BYD – the world’s second-largest electric carmaker – is considering its own B-segment or midsize electric SUV priced around Rs 20 lakh.
The company has shortlisted a few models for the Indian market, and if the exploration concludes favourably, BYD India could enter the Rs 20 lakh EV segment by the second half of 2025, challenging Hyundai’s Creta EV and Maruti Suzuki’s eVX.
The model may be showcased at the upcoming Bharat Mobility Show in January 2025, which could act as a solid platform to gauge prospective buyers' interest in the SUV.
Rajeev Chauhan, head of Electric Passenger Vehicles (EPV) Business, at BYD India told Autocar Professional, “There are many auto companies in India doing some small or big research, including ours. There is a plan to introduce an SUV priced between Rs 20 lakh and Rs 50 lakh, which will be decided based on the study's outcome,” he said.
“Our products are not positioned in the Rs 15 lakh-25 lakh market – that is a large market, and we are on that journey. We need these learnings to develop the right business case to enter the next orbit,” said Chauhan.
BYD will also challenge market leader Tata Motors, which is in a portfolio-expansion mode. SUV specialist Mahindra will also enter the fray with a range of born-electric SUVs.