BYD India launches third model, pushes for charging facilities

With the launch of the third electric car model, BYD India will concentrate on consolidating its leadership position in the luxury electric vehicle (EV) segment and aims to expand India's charging infrastructure.

BYD India launched its electric sedan SEAL on March 5, priced between $49,400 and $64,000, as it plans to cover 90 percent of the EV market in India by the end of the year, according to a press release issued by BYD India.

The company aims to bring more products into the Indian market in line with consumers' demand and India's evolving electric vehicle market, according to Sanjay Gopalakrishnan, vice-president of BYD India.

"Our focus is to bring products to meet the needs and promote the development of India's charging infrastructure with local partners in the country," Gopalakrishnan said.

India still lacks more than 60 percent of needed charging stations to meet current demand, experts said.

"Our current focus is on consolidating our position in the premium and luxury EV segment with our existing products and expanding our dealership network," Gopalakrishnan said."We are confident that it will play a significant role in accelerating the new energy vehicle revolution in India."

BYD, the world's largest electric car maker by sales, will simultaneously work on increasing reach to shore up volumes and aims to cover 90 percent of the electric vehicle market in India by the end of the ongoing calendar year.

The statement came amid the Indian government's increased scrutiny of investments from China.

Last year, the Indian government had turned down BYD's proposal to invest $1 billion in locally manufactured electric vehicles in the country. The Indian government has increased its inspection of investments from China since the border standoff in June 2020.

The Economic Survey of India 2023 predicts a strong 49 percent compound annual growth rate for India's domestic electric vehicle market from 2022 to 2030. By 2030, it is estimated that annual sales will reach 10 million.

The BYD expects that by 2030, one in every three cars sold in India will be electric.

BYD said the adoption of electrification in the country is progressing as expected. The company's launch of the BYD Seal will help strengthen its presence in this space.

"We are overwhelmed by the incredible response from customers in India," Gopalakrishnan said in a press statement issued by the BYD on March 6.

The third model of BYD in India, the BYD Seal electric sedan, has already received two hundred bookings. The BYD Seal electric sedan was launched on March 5. Its bookings opened on Feb 28.

Federal finance Minister Nirmala Sitharaman, in her interim budget speech in Indian Parliament in early Feb, announced a plan to boost the electric vehicle sector. The government in the budget promised to bolster the EV ecosystem by supporting manufacturing and charging infrastructure.

As of Feb 2, there have been 12,146 operational public EV charging stations throughout the country, according to data from India's Federal Ministry of Power.

There is a dearth of charging stations throughout the country. Existing charging stations can meet only 40 percent of total demand, automobile emission expert SM Ghosh said.

To cash in on the country's budding electric vehicle market, local and federal governments should work hard to bring more charging stations, Ghosh noted.

Currently, BYD SEAL is brought to India via CBU (completely built-unit) and will be offered in three variants: Dynamic, Premium and Performance, with four color options: Arctic Blue, Aurora White, Atlantis Gray and Cosmos Black.

BYD SEAL is equipped with the first Cell-to-Body (CTB) and iTAC (Intelligent Torque Adaptation Control) technology in history. The BYD SEAL has a range of up to 650 kilometers per charge and can accelerate to 100 km/h in just 3.8 seconds, the statement said.

The Seal EV offers two battery pack options and is expected to have a stylish interior with premium features and safety features. For a safe and intelligent driving experience, the BYD SEAL comes equipped with Advanced Driver Assistance Systems (ADAS) Level 2, NFC card integration and 9 airbags. With ADAS Level 2, customers can experience enhanced safety features such as adaptive cruise control and lane-keeping assistance, said the company.

At present, BYD India's passenger vehicles division has a dealership network with 24 showrooms across 21 cities. The company sells two products - BYD Atto 3 and the e6.

BYD India was established in March 2007 in Chennai, India's southern state. The Indian subsidiary has two factories, covering more than 140,000 square meters, with an investment exceeding $200 million. Its business covers electric passenger cars, battery energy storage, electric buses, electric trucks, electric forklifts and electronics.