Chinese EV giant BYD has recalibrated its strategy in India, opting to import electric vehicles rather than establish local manufacturing. This decision follows India’s rejection of BYD’s $1 billion investment proposal last year, influencing the company’s choice to pursue an “import-only” model under the current EV policy.

Despite high customs duties on imports, BYD remains committed to boosting its market presence with a 40% increase in sales this year. The company plans to bring in three models from China, aiming to sell 3,500 units. Discussions are also underway with Indian corporates for potential alliances, echoing setups like MG and SAIC’s (Shanghai Automobile Industry Corporation) partnership with JSW Group.

BYD’s internal analysis of India’s EV policy led it to conclude that the required commitments couldn’t be met at this stage, according to Rajeev Chauhan, head of BYD’s EV business in India. Still, the brand is committed to pricing competitively and leveraging its robust supply chain to navigate the pricing challenges. BYD remains open to potential future investments in India, leaving room for expansion as market conditions evolve.

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