BYD, the world’s second-largest electric vehicle (EV) manufacturer, is exploring the launch of a mid-size electric SUV priced around Rs 20 lakh for the Indian market. If plans move forward, the model may debut in the second half of 2025, with a potential showcase at the Bharat Mobility Show in January 2025.
Rajeev Chauhan, Head of Electric Passenger Vehicles at BYD India, stated the company aims to introduce a new SUV next year, though the final decision will depend on ongoing market studies. The launch would position BYD to compete with models from Maruti Suzuki, Hyundai, and other established players in India’s growing EV market.
BYD currently operates a small assembly facility in Tamil Nadu but relies on imports for most of its vehicles. While the company plans to expand local manufacturing by 2025, it has faced challenges, including a $9 million penalty related to import tax issues. BYD is reportedly in talks with Indian conglomerates like Reliance and Adani to set up a local manufacturing facility.
In 2023, BYD sold over 2,300 vehicles in India and expects a 40% growth in sales by the end of this year. The company also plans to expand its dealership network from 27 to 47 outlets by next year and is introducing new models, including the Seal saloon EV and a smaller battery version of the Atto 3 SUV.
BYD is also evaluating the potential for launching plug-in hybrid vehicles in India, with a decision expected after further market studies in the next 6-8 months.