BYD to release luxury electric sedan in India

BYD to release luxury electric sedan in India

By Kristina Sobol  

Budrigannews.com – During an auto show on the outskirts of New Delhi on Wednesday, the Chinese electric carmaker BYD announced that it will launch its third passenger electric vehicle in India by the fourth quarter of this year.

BYD is backed by Warren Buffett. BYD Seal, a luxury sedan with all-wheel drive, will have a 700-kilometer range. It also stated that the company intends to double its dealer network in the nation by 2023.

In October, BYD unveiled an electric sport-utility vehicle (SUV) as its first passenger car in India with the goal of capturing forty percent of the country’s electric car market by 2030. The automaker intends to establish local manufacturing and sell 15,000 Atto 3 e-SUVs this year in India, where it has already invested more than $200 million.

After a clash in 2020 between soldiers from the two countries on their disputed Himalayan border, the Indian government has sought to limit investments from Beijing and continues to closely monitor investments from China.

India’s domestic companies, such as Tata Motors (NYSE:), are driving electrification forward. While global players like BYD and Kia Motor are introducing premium automobiles, India’s top-selling EV manufacturer and Mahindra & Mahindra are lining up affordable EV models.

According to a forecast made by S&P Global (NYSE:), India is expected to replace Japan as the third-largest market for passenger and other light vehicles. Mobility.