China’s BYD, the world’s top electric carmaker, is preparing a new model for India as it looks to continue its rapid overseas growth, executive vice president Stella Li told AFP on Tuesday.
Engineers at BYD’s headquarters in Shenzhen, southern China, are working on the design, she said, although the launch date remains unclear.
“India is a market for us, but we need to put more effort”, Li said at the World Governments Summit in Dubai.
BYD, which began life as a battery company, sold 2.26 million electric vehicles last year, overtaking Elon Musk’s Tesla as the world’s top manufacturer.
The Chinese company now plans to “introduce a different model fitted for India”, Li said, without giving further details.
“My team is working on that, but there is still some work to do”, she said. She denied a report that BYD is planning a car assembly plant in India.
Relations between the world’s two most populous nations have slowly warmed since a deadly border clash in 2020, with direct flights resuming in October after a five-year lag.
BYD is now eyeing a “minimum target” of 24 percent overseas growth this year, equating to 1.3 million vehicles, including hybrid models.
Domestic sales have dropped since an adjustment in government subsidies for electric vehicles, with January’s figures down for the fifth straight month.
BYD is focusing on “every market except the U.S., where Chinese imports are subject to hefty tariffs, Li said.
Despite warnings of slower growth in Europe, where hybrids overtook purely petrol-powered cars last year, Li said sales would be boosted by new models.
The new, longer-range hybrids are “for people who don’t trust EVs (electric vehicles)”, she said, calling them a “game-changer”.
After China announced a ban on hidden door handles over safety concerns, BYD will also introduce mechanical handles in its overseas models, Li added.
