How will BYD dominate India, along with Tesla this will also be a challenge.

Tesla is considered the largest manufacturer of electric vehicles worldwide. But did you know that it is not Tesla but BYD that holds the largest share in the electric market? This Chinese brand has a market share of 24.7 percent while the US EV manufacturer 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 cars into India. This means that vehicles that are fully imported are charged a hefty import duty of 110 percent.

Challenges for BYD in India

This brings the mid-market brand to 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. Meanwhile, BYD is making its profit by selling its models at a cheaper price than fully imported vehicles.

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 hurdles in expanding 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, that BYD entered the Indian PV market in 2021. The automaker recently launched its fourth model in the country - Sealion 7 - priced at Rs 48.90 lakh. BYD has achieved 3% market share and 40% growth in sales to 2,818 units in 2024.

BYD's plans for India

BYD wants to launch EVs priced below Rs 20 lakh in the Indian market. This could be the first major 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.