India is now a top-5 buyer of vehicles in the global marketplace. Social mobility and incomes also see Indian consumers dreaming of vehicles for lifestyles and commerce. In the green energy transformation in progress the Indian government wants to see manufacturing and engineering jobs as “Make in India” for domestic and export marketplaces.
BYD, as a Chinese enterprise, already performs low-volume assembly production in India. Batteries have been sold since 2007. Busses, since 2013, in a JV with Megha Engineering, are sold under the name of Olectra Greentech (MEIL). The pattern of entering a market with products and expanding is also seen in the USA market with bus operations by BYD.
BYD has already set up selling for electric vehicle lines. The Atto 3 SUV, and e6 luxury car, are set to be joined by the Seal luxury sedan in the Indian marketplace this year. BYD has acted to open selling operations in 5 major Indian cities.
In 2022 BYD set a goal of 15000 EV unit sales in India for 2023. The Tamil Nadu (Sriperumbudur, Chennai) manufacturing plant has a capacity of 10000 units per year. The vehicles are likely to be “kits” imported from China and assembled. The new plant was to be located in Hyderabad. In 2022 ambitions were to grow to 10-15% of the Indian EV market. In 2023 the 2030 goal has been discussed publicly at 40% of the domestic Indian EV market. The goal is in question with the failure to become a domestic Indian manufacturer of EV’s at scale.
In our next release EkaLore looks at Tesla’s take to expand manufacturing in India.
For more analysis and notes see more at http://www.ekalore.com
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