BYD to Grow Its Premium EV Car Market

New Delhi:BYD India, part of the $83.4 billion BYD (Build your dreams), the Chinese automaker, which sells three electric car models in India, the fiercely competitive world’s third automotive market, is focussing to grow in the premium Rs 30 lakh – Rs 40 lakh car segment.

“India is a big and growing market for us and we have a clear cut strategy to focus our growth in the premium car market between Rs 30 lakh and Rs 40 lakh price range where competition is very low,” Rajeev Chauhan, Head of Electric Passenger Vehicles (EPV) Business at BYD India told Financial Chronicle.He said there were a lot of players in the mass segment and quite a few in the luxury segment. “We are positioning ourselves in the premium segment. This is a space where we feel we belong, our cars belong," he pointed out.

Chauhan said at present there is no electric multipurpose vehicle (MPV) sold in India. “Now we have created this premium electric MPV segment by launching the BYD eMax7, a family car and the market response has been very good,” he noted.

The company registered over 400 bookings within a few days of opening the window for bookings last month before its official launch on Tuesday.

The imported BYD eMax 7, which attracts 70 import duties, comes in two trims called Premium and Superior and is priced between Rs 26.90 lakh and Rs 29.90 lakh for the top end version. It is a full-size, 6/7 seater electric vehicle targeted for the personal use of the customers, with a range of 420-530 kilometres on a single charge.

At present BYD sells three electric models: eMax7, which replaced the e6 model (Rs 29.15 lakh), Atto 3 SUV priced at Rs 25 lakh and Seal, a sedan at Rs 41 lakh.

Chauhan said when the company launched the BYD Seal in March 2024, there was no premium electric sedan segment in the country. “So, we created that segment and within six months we sold over 1,000 units,” he noted.

“We want to be visible and sizable in the premium electric vehicle market in India,” Chauhan said, refusing to reveal the launch line-up of new electric models.

He said the outgoing BYD e6 MPV had sold over 1,200 units in CY 2023. “We are confident its successor with more innovative features will sell much more than that.”

Chauhan said BYD has already sold over 2,000 units till date this year and it was targeting to touch 3,500 units in the CY 2024. It sold 2,011 units in CY 2023. BYD is ranked fourth in cumulative EV sales in the country after Tata Motors, MG Motor, and Mahindra.

India's EV market, where Tata Motors has about a 70 per cent share, is about 2 per cent of the 4.2 million cars sold in India last year and the government wants this to reach 30 per cent by 2030.