BYD holds the largest share in the electric market, it will also challenge Tesla along with it to dominate India : Do you know that BYD holds the largest share in the electric market before Tesla. This Chinese brand has a market share of 24.7 percent while the US EV maker has a market share of 10.4 percent. Despite all this, BYD is having trouble expanding in India and even today the company imports its electric car to India. This means that vehicles that are fully imported are charged a hefty import duty of 110 percent.
Challenges for BYD in India
This causes the mid-market brand to reach the premium end of the market. Recently it was also reported that the Indian government is considering reducing the tariff on fully imported EVs from 110 percent to 15 percent on certain conditions. However, no official announcement has been made on this yet.
BYD has been present in India since 2007
The Chinese EV maker is currently looking to set up a manufacturing facility in India. Chinese automakers like BYD and MG Motor have faced several troubles to expand their presence in the Indian auto market. BYD has been present in India since 2007. Manufacturing electric buses.
3% market share in 2024
Let us tell you, BYD entered the Indian PV market in 2021. The automaker recently launched its fourth model - Sealion 7 - in the country, priced at Rs 48.90 lakh. BYD has reached 3% market share and 40% growth in sales to 2,818 units in 2024.
BYD's plan for India
BYD wants to launch an EV priced below Rs 20 lakh in the Indian market. This could be the first major important step in that direction. Currently, there are companies like Maruti Suzuki, Hyundai, Tata Motors and MG Motor in the market which are eyeing this move of BYD. BYD is also considering launching plug-in hybrid vehicles for the Indian market.