BYD India is hoping to get solid sales with the e6 and Atto 3 in the coming year. Both models arrive in semi-kick-off (SKD) kits, which means a hefty price tag. However, the automaker is considering a complete knock-down (CKD) kit in the future, and in the second phase of the company’s strategy, the Atto 3 will be assembled locally in India.
Sanjay Gopalakrishnan, senior vice president of BYD India, said in a recent interaction with HT Auto: “As far as the game plan is concerned, we will produce SKD kits next year. We will stabilize production and aim for 15,000 numbers next year with Atto 3 and e6. How the market will go and behave and how the BYD brand will be accepted by customers. Based on this, the second phase of the strategy may be CKD, plus new products.”
Sanjay G. also explained that they plan to upgrade the e6 MPV, its first in India, which has been on the market for over a year now. A timetable for the update hasn’t been announced, we’re told, but a seven-seat version is certainly not in the works.
Also read: Over 40% of Atto 3 luxury car owners pre-ordered, mid-January 2023 deliveries
Watch: BYD Atto 3 review
The BYD Atto 3, the Chinese automaker’s new halo offering in India, is priced at ¥3.399 million (ex-showroom).Steep pricing has been a bone of contention for potential buyers considering similar models like the Hyundai Kona Electric are priced from ¥2.384 million units, while the MG ZS EV ranges from ¥2.258 million (all prices are ex-showroom). However, local assembly will mean lower taxes as well as more affordable price tags, which will help automakers compete more effectively with rivals.
Also read: BYD Atto 3 review: Expensive but promising electric SUV
Local assembly is also more important in BYD’s long-term India strategy, given the brand’s aim to capture a 30% market share in the electric vehicle segment by 2030. The Chinese giant is a global leader in electric vehicles and owns electric buses and electric vehicle components in India. However, entering the electric passenger car market marks a big step for the brand in its global expansion plan. Sanjay G said that India is a key market for BYD’s overseas strategy in the next 10 years.
“As the ambition of BYD India, we are looking ahead to 2030, we should capture 30% of the electric vehicle market. Keeping this ambition in mind, we will make plans as this is an ambitious step forward to see India as a For a huge electric vehicle market, BYD will become the global leader in this field [EVs], we must become leaders in this field. That’s why we want to reach 30% of total EV sales by 2030,” he added.
Also read: BYD plans to sell 15,000 units next year, 53 stores by end-2023
BYD’s focus in 2023 will be on sales and expanding dealer network, but new products will be launched in the coming years
The company is tight-lipped about what will follow the Atto 3 launch in India. BYD is very clear that there will be no new product launches in 2023, and the focus will be on building the brand and expanding its presence through a new dealer network. The automaker plans to have about 24 points of sale by the end of 2022, increasing to about 53 showrooms by December 2023.
BYD is now looking to compete at the premium end of India’s EV market, where competition is limited. Neither the BYD e6 nor the Atto 3 have direct competitors at the same price point, but the former will take on the likes of the Toyota Innova HyCross and Kia Carnival, while the Atto 3 has mid-size SUVs to compete with like the Citroen C5 Aircross and Hyundai Tucson. BYD said the Atto 3 has received more than 1,500 reservations since its launch in November this year, while the e6 electric MPV has sold more than 650 units so far.
First published date: December 16, 2022 at 12:23pm CST
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