China’s BYD Wishes to Manufacture Cars in India, Awaits Signal From Indian Government

China BYD’s top exclusive revealed that it looks forward to manufacture electric cars in India. However, BYD is yet to receive a direct signal from New Delhi on a possible easing of stringent investment rules for Chinese businesses. Last year in 2023, BYD partnered with a local firm to submit a proposal worth $1 billion to build electric vehicles in India.

The Indian government is yet to approve the plan amid increasing scrutiny of Chinese investments following the 2020 border clash. Increasing scrutiny of Chinese companies has led Great Wall Motor, a competitor of BYD, to abandon its plan to invest $1 billion in India, the world’s third largest car market.

India is slowly and gradually emerging as an important market for the car and battery-maker, which is rapidly expanding globally. However, BYD is a small player in India, with investment worth $200 million and only selling imported EVs like the Atto 3 SUV and Seal Sedan.

On Tuesday, Oct 8, BYD launched a seven seater family car in India called the eMax7 priced at $32,000 - $35,500 with a range of 420-530km on a single charge. In 2023, BYD sold about 2300 cars in India according to the government data and in first 9 months of 2024 they have already sold over 1900 electric vehicles.