BYD EV, a Chinese electric vehicle manufacturer, intends to capture 90% of the Indian EV market by the end of the year as it increases its dominant position in EVs priced above Rs 30 lakh, according to a senior company executive on Tuesday.
BYD EV This car with a range of 570 KM on a single charge of 4 hours:
BYD EV India, which just released its electric sedan SEAL priced between Rs 41 lakh to Rs 53 lakh, is aiming to obtain ARAI homologation certification for its electric SUV Atto 3, which will lift the 2,500-unit import volume limit.
Also Read: All New Killer Mahindra Bolero 2024
Homologation is the process of certifying automobiles for roadworthiness based on government-specified regulations for all vehicles manufactured or imported into the country.
Our goal is to cover 90 percent of the EV market in India. That is exactly what we intend to do by this year, which implies we will be present in large towns and Tier I cities.
“Wherever we see high electric vehicle penetration, where electric vehicle sales are growing,” BYD India’s Senior Vice President of Electric Passenger Vehicle Business, Sanjay Gopalakrishnan, told PTI on the sidelines of the launch.
Also Read: All New Kia Seltos Facelift 2024
BYD EV India’s passenger vehicle sector currently operates a dealership network of 24 showrooms in 21 locations, selling two products: the BYD ATTO 3 and the e6.
Passenger EVs are now offered mostly in metros and tier I cities in India, with lower-cost versions increasingly expanding into tier II.
“We are the industry leader in premium BYD EV sales of more than Rs 30 lakh. So, with the BYD EV seal, we are adding another car to that group. We aim to be the market leader in that category.”
BYD EV Demands in Indian Market:
When asked if the government’s rejection of the company’s plans to set up a USD 1 billion manufacturing plant in Hyderabad has hampered its progress in India, he said, “Whatever the demand is, we are trying to cater to it as per government regulations; that is what we are going to do because we are in the Rs 30 lakh-plus category. The market is limited.
Also Read: Mew Mahindra Scorpio X
So, we’re playing in that market.” When things start going well and demand rises, he says, “Then we will see what the next plans are and how to do that.” When asked about the requirement for local assembly in India for the company to join the low-cost section of the EV market,
BYD EV Certification:
BYD India imports the SEAL sedan under Economic Commission for Europe (ECE) vehicle certification, while the Atto 3 electric SUV is sold under the GSR 870 CIRT certificate.
It caps the total number of automobiles that can be imported at 2,500 per model.
Also Read: Amazing Mahindra EV SUV
“Once we receive a homologation certificate, the number restriction is lifted, therefore we can always import more automobiles. We need an ARAI certificate, and we will acquire it. Atto 3 will shortly receive a homologation certificate from ARAI.
FAQ: BYD Electric Vehicles (EV) in India
What is the range of BYD’s electric vehicles on a single charge?
BYD’s electric vehicles, like the Atto 3, offer a remarkable range. Specifically, one of their models boasts a range of 570 KM on a single charge, which requires about 4 hours.
What is the significance of ARAI homologation certification for BYD’s electric SUV Atto 3?
ARAI homologation certification is crucial as it certifies automobiles for roadworthiness based on government regulations. For BYD’s electric SUV Atto 3, obtaining this certification would lift the 2,500-unit import volume limit, allowing BYD to import more units to meet the growing demand in India.
How expansive is BYD’s dealership network in India, and in which cities are they primarily located?
BYD India operates a dealership network of 24 showrooms across 21 locations, focusing on metros and tier I cities. The expansion aims to cover 90 percent of the EV market in India, targeting areas with high electric vehicle penetration and growing sales.
What are BYD India’s plans for local assembly and the low-cost EV market segment?
BYD India is currently focusing on the premium segment of the EV market, where vehicles are priced over Rs 30 lakh. The company’s approach is to cater to demand as per government regulations. Future plans for local assembly and expansion into the low-cost EV market segment will depend on the growth of demand in their current market segment.