Chinese electric vehicle (EV) maker BYD on Tuesday said the company will bring in all the vehicles suitable for the Indian market — whether a hatchback, sedan or large SUVs — whilst setting a target of garnering 40 per cent market share by 2030 in the Indian EV space.
“As soon as the market (India) requires it, we will bring it ... we have everything. Starting from small hatchbacks to sedans to whatever you name it, big SUVs ... everything is there,” Sanjay Gopalakrishnan, Senior Vice President — Electric Passenger Vehicles, BYD India, told businessline on the sidelines of the launch of premium electric SUV, Atto 3. He said BYD is also bringing in heavy-duty trucks to India, which will be directly imported from China for the customers (mining, construction companies).
Latest offering
Atto 3 marks BYD’s official entry into the Indian electric passenger vehicle market with its brand mission of “technological innovations for a better life”. The company will announce the price in December.
Atto 3 is equipped with the ultra-safe ‘blade battery’ technology and the born EV platform (e-Platform 3.0). It features fast charging from 0-80 per cent within 50 minutes, a range of 521 km according to ARAI tests with a higher battery capacity of 60.48kWh, and a 0-100km/h acceleration time of 7.3 second. It also features Level-2 advanced driving assistance system (ADAS) BYD Dipilot, seven airbags, panoramic sunroof, a 12.8-inch adaptive rotating suspension electronic pad, 360 degree holographic transparent imaging system, and many more.
The company had set up its Indian subsidiary in 2007 with two factories in Chennai at a cumulative investment of over $200 million. The business covers mobile components, battery energy storage, electric buses, electric trucks and electric forklifts. BYD India provides customers with product solutions and related after-sales services.
‘Right time’
“The penetration of levels are increasing because of the high cost of fuel right now. People wanting to travel long distance or even 100-200 km a day find it expensive. So they might have a second car as an EV and that’s how we expect the demand to increase, and with the charging infrastructure, we think this is the right time,” said Gopalakrishnan.
The company, meanwhile, has sold over 500 units of the e6 electric multi-purpose vehicle, till September, he said, adding that it expects to sell around 15,000 units of the Atto 3 over the next one year.
On manufacturing in India or making new investments, Gopalakrishnan said: “Currently, we are exploring and it will come as the demand increases ... with 10,000 units, it doesn’t make sense right now.” The company has 24 showrooms currently and plans to expand them to 53 by the end of 2023.