Delhi Delhi. China's BYD wants to make cars in India but has received no “direct” signal from New Delhi about a possible relaxation of stringent investment rules for Chinese businesses, a top executive said, as the automaker seeks to expand its reach in the fast-growing market. Wants to expand. BYD last year submitted a $1 billion investment proposal to make electric vehicles in India in partnership with a local firm. But New Delhi has not yet approved the plan following increased scrutiny on investment from China following the 2020 border conflict between the arch rivals. Rajeev Chauhan, head of BYD's passenger EV business in India, said, “The ambition is always there, but you need a lot of other things. (We) have not got any direct indication,” when asked if he would like to invest. There are no signs of relaxation in the rules. “We hope things will get a little better. This is the time when we would definitely want to think a little more about this topic,” he said in an interview, referring to plans to make the car in India. The growing scrutiny of Chinese businesses has already forced BYD rival Great Wall Motor to shelve plans to invest $1 billion in India, the world's third-largest car market.
BYD is a smaller player in India, where it has invested $200 million and sells only imported EVs such as the Atto 3 SUV and Seal sedan. But India is an important market for the car and battery maker, which is expanding rapidly globally.
Manufacturing cars locally will help BYD launch more competitively priced EVs in India. Chauhan said that while awaiting investment approval, it is targeting wealthy Indian buyers with its imported premium EVs.
“There are a lot of players in the mass segment and there are a lot of players in the luxury segment as well. The premium segment, that's where we are trying to reach and position ourselves. This is an area where we feel we are, Our cars are there,” he said. Chauhan said BYD can carve out a niche for itself in the $24,000-60,000 price category, where there is little competition. BYD on Tuesday launched a seven-seat family car in India called the eMax 7, which is priced at $32,000-35,500 and can travel 420-530 kilometers (261-329 miles) on a single charge.
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