BYD, which surpassed Elon Musk's Tesla to become the world's largest EV seller in the last three months of 2023, launched its electric sedan Seal in India with prices starting from ₹41 lakh (ex-showroom).
The Chinese carmaker, which currently imports all its cars, is eyeing the pole position in electric vehicles costing over ₹30 lakh. "We want to be the leader in ₹30 lakh-plus EV segment," says Sanjay Gopalakrishnan, senior vice president, BYD India.
To get there, the automaker is expecting a homologation certificate from the Automotive Research Association of India (ARAI) for its electric sport utility vehicle (SUV) Atto 3, which will allow it to bring in more cars.
"Once we get the homologation from ARAI, then we will definitely bring in more cars as there is no limit on the numbers we bring here. Currently, sales of Atto 3 are limited to 2,500 units as per government regulations without the homologation certificate," Gopalakrishnan says.
When asked if the carmaker is seeking a homologation certificate for the newly launched Seal, Gopalakrishnan says the carmaker will first gauge the demand and then decide.
BYD is among the top five electric carmakers in India even though its proposed $1 billion investment has been stalled due to the government's crackdown on Chinese companies.
India is a long-term play for BYD, says Gopalakrishnan. "Everybody feels that India is going to be a big EV market by 2030 and if BYD has to be among the top global players, India has to be there in their portfolio," he says.
BYD currently has 24 outlets across India. While its India portfolio now includes an SUV, a sedan, and a multi-purpose vehicle e6, the carmaker plans to launch affordable models in the country when EV penetration reaches an inflection point.
"We have affordable models in our global portfolio. We will bring those to India as and when the market comes to maturity because it is evolving. We believe that the inflection point would be at 5-7% penetration level when it starts growing in a big way," Gopalakrishnan says.
"What we are telling our partners and consumers is that we are going to stay here for the long term. We will bring in more models at the right time," he adds.
BYD is one of the few global carmakers that have their own cell technology. The Seal's battery is integrated into the chassis, which the carmaker claims offers more space and safety.
On the pricing of BYD Seal, Gopalakrishnan says it is a launch price. "We thought of competitive pricing so that consumers are able to experience the car," he says.
25% of BYD's sales in India come from customer referrals. "The practical range of our products kills range anxiety for most EV consumers," Gopalakrishnan says. BYD Seal offers a range of up to 650 km for its top-end rear-wheel drive variant which costs ₹45.55 lakh. BYD is offering a 7-kilowatt charger and a portable 3kW charger.
Within a day following the launch, the carmaker has garnered 200 bookings for the Seal.
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