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BEIJING, October 11 (TMTPOST)— BYD Co. is ramping up global expansion as the China’s largest electric vehicle (EV) manufacturer first introduced one of its flagship vehicle models sold overseas in India, one of the key markets in the world.
Source: Visual China
BYD rolled out Atto 3 in India on Tuesday. As a full-electric C-segment sport-utility vehicle (SUV), Atto 3, is equipped with BYD Blade Battery, a product introduced in 2020 and was alleged far-less-susceptible to catching fire. It is BYD’s first electric SUV as well as first passenger car to enter into India, where the EV giant forayed into as a producer of batteries and mobile components in 2007.
BYD India has started ordering of Atto 3 and expected to begin delivery in next January. The unit’s Senior Vice President Sanjay Gopalakrishnan said his company is seeking to taking 40% of market share by 2030.
India was ranked the fourth largest auto markets across the globe with annual sales of 3.08 million passenger vehicles in 2021, increasing 27% from the previous year, according to industry body Society of Indian Automobile Manufacturers (SIAM). Analysts estimated India to overtake Japan by 2025, rising to the third behind China and U.S.
The new product release came as BYD made new achievements in other overseas markets.
The Shenzhen-based company inked a contract in late September with Sime Darby Motors (SDM), which allows the agent for more than 40 car brands to EVs including Atto 3 in Malaysia.
Earlier this month, BYD reached an agreement with Sixt SE, a Germany-based car rental company, to offer about 100,000 pure-electric vehicles in the coming six years with Atto3 as the first model to introduce. The initial delivery is set to take place in the fourth quarter of the year for Sixt’s European customers and those in Germany, France, the Netherlands and the UK would be the first to rent Atto3.
BYD said last week it delivered 5 pure electric tractors to Transportes Marva at Expo Transporte 2022, a logistics industry exposition held from Wednesday to Friday in the central Mexican state of Puebla. This is part of the first order of electric tractor to Marva as BYD plans to ship a total of 120 vehicles the large local transport company in Mexico by December.
