BYD is a China-based electric car maker which is raising as a global leader and competing players like Tesla, Toyota, etc. It’s launched its first electric car in India BYD e6 back in 2021 with a very premium price tag. Surprisingly BYD is doing great in India and its results are impressing EV makers and dealership owners. Seeing the results the company is planning to grow in the domestic retail market of India.
The previous month i.e. on September company reported 63 units sold and October sales reports are yet to come. With a growing average of 2 BYD e6 sold each day in India the company has ambitious plans for the Indian market. BYD will also launch its other most successful electric car Atto 3 in India by January 2023 and following the car, it’ll have 23 BYD showrooms in India. Currently, the company has 12 operating showrooms in multiple cities of India like Chennai, Bengaluru, Indore, Ahmedabad, etc. By the end of 2022 BYD is aiming to have 23 outlets whereas forecasting the results it’ll eventually expand to a total of 53 outlets by the end of 2023.
The plans of BYD to win a highly competitive and risk-enabled market that too against players like Tata, Mahindra, and MG who have already set up brand value in India look highly ambitious. But at the same time we shouldn’t forget, BYD is bringing innovation in the EV market and does hold the capability and experience to compete against the global players.
Being Chinese how BYD is dodging 100% import taxs:
Just like some clever EV players in the E-scooter market who assemble just 50% in India, BYD is using a similar strategy. BYD has plans for assembling 50% of its upcoming electric car BYD Atto 3 in India. At one of its manufacturing plants near Chennai BYD India will assemble 50% of its Atto 3 using the semi-knocked down kit with 10,000 units of manufacturing capacity and by the end of 2023 BYD is planning 15,000 units sold
If BYD gets really big and enters the mainstream EV market of India, it’ll have to face players like TATA motors, Mahindra, MG, Hyundai, etc. but on the other way around most of the EV players must be ready for the entry of BYD as a major competitor.
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