BYD Chinese Electric Car Maker Launched its Passenger EV in India
BYD ‘s Push into India has also come at a time where in the South Asian Country continues to maintain tight scrutiny of investments coming from bordering nations, which include China.
Warren Buffet is a successful investor, he has invested in Chinese electric carmaker BYD, the above company has launched its 1st passenger car in India. In the view of broader expansion, the sport-utility vehicle (SUV) marking its entry into the mainstream market.
The BYD, which already sells electric buses as well as electric vehicles for the corporate fleets in our nation, would launch its Atto 3 electric SUV in the world's fourth-largest car market where domestic carmaker Tata Motors dominates electric car sales.
The above move comes amid a wider global push by the Chinese carmaker, which has already began selling its electric cars and plug in electric hybrids in the markets across the globe, including nations such as Singapore, Brazil, Costa Rica, Colombia, New Zealand and Norway.
Previously, the BYD has stated that it would start selling its passenger EVs in Japan starting from 2023 and also it has got plans to set up a facility in Thailand-its latest among 30 others in United States, Brazil and India, in order to produce 150,000 cars each year starting from 2024. It has launched the Atto 3 electric SUV in Thailand on Monday.
BYD 's Push into India has also come at a time where in the South Asian Country continues to maintain tight scrutiny of investments coming from bordering nations, which include China.
Strict controls on such incoming investments have forced Chinese carmaker Great Wall Motor to shelve plans to invest $1 billion in India, earlier this year, after it has failed to obtain regulatory approvals.
BYD, however, already has a manufacturing plant in the nation and it would not require to bring In new investments in order to assemble as well as sell the Atto 3, a source which is very familiar with the company's plans stated.
The Shenzhen-based auto as well as battery producer, which does include Buffet's Berkshire Hathaway as an investor has entered India in the year, 2007 producing batteries as well as components for mobile phone makers from its plant near the southern city of Chennai.
In the year, 2013, it has begin building buses in the nation, with a local Indian partner and in the year, 2021 It launched its e6 EV for sale to corporate fleet operators as well as owners.