According to Sanjay Gopalakrishnan, senior vice president of BYD India’s passenger EV business, the company marketed 700 EV cars of a single model in 2022 and anticipated to sell 15,000 units of three models in the current calendar year.
BYD India, a subordinate of Chinese automaker BYD, is optimistic about the evolution of the country’s passenger electric vehicle market and plans to release another model this year.
The third model will unveil this October
Currently, the company offers two models: an SUV and a MUV. Gopalakrishnan stated that the third model would be introduced in the sedan segment in October this year.
BYD, a Chinese conglomerate headquartered in Shenzen, is a leading manufacturer of electric vehicles. BYD India has a manufacturing plant in Chennai.
We expect to sell 15,000 units in 2023. this will be largely due to the adoption rate, which is increasing, and charging infrastructure is picking up,
by 2030, the optimistic projection of the size of the electric passenger vehicles market is 30 percent of the total, which is 55 lakh to 60 lahks
Sanjay Gopalakrishnan, Senior Vice President of BYD India stated on EV market in India
India’s EV market is rapidly evolving
By that year, he expects BYD India to have a 40% share of the country’s passenger EV market.
The assembly capacity of the company’s Chennai plant will be increased based on demand from the current 15,000 units per year.
According to Gopalakrishnan, the Chinese company has funded $200 million in India, and BYD India now has 24 delivery points across the country.
According to a report by the India Energy Storage Alliance, the Indian electric vehicle market is rapidly evolving and will exceed 63 lakh units annually by 2027.
