Warren Buffet-backed Chinese firm BYD debuts in India, starts booking of its new electric SUV
BYD's Atto 3 electric SUV car is displayed during its launch in New Delhi
Warren Buffet-backed Chinese electric carmaker BYD has forayed into the Indian automobile market with its passenger car—an electric sport-utility vehicle (SUV).
The Chinese car company unveiled its Atto 3 electric SUV, which is packed with its renowned Blade battery technology.
The company has opened the bookings for a token amount of Rs 50,000 (US $607) and the deliveries of the first five 50 units will begin in January 2023. The price of the SUV is yet to be announced.
Atto 3 will have an electric motor pushing out a peak power of 201bhp and 310Nm of torque. The model comes with a 60.49kWh battery pack promising a range of 420km on a single charge.The company claims that its SUV is capable to jump from 0 to 100kmph in 7.3 seconds.
It is expected to give tough competition toTata Nexon EV, Mahindra XUV400, Maruti Suzuki Grand Vitara Hybrid, and Toyota Urban Cruiser Hybrid.
With the launch of its electric SUV, BYD aims to corner around 40 per cent of the electric car market in India by 2030.
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BYD views India as one of the important markets for its global expansion plan, even as it has started selling EVs in markets around the world, including Norway, New Zealand, Singapore, Brazil, Costa Rica, and Colombia.
"India will be one of the key markets in BYD's global portfolio," Sanjay Gopalakrishnan, senior vice president of electric passenger vehicles at BYD India, told Reuters news agency.
However, India has been wary of Chinese investments in the recent past, and has tightened scrutiny of investments coming from bordering nations, especially China. Due to this,another Chinese carmaker, Great Wall Motor, had to shelve its $1 billion investment plan in India.
However, BYD has been upbeat about its future prospects and has even sent up a manufacturing plant in India, where the annual capacity is expected to go up to 15,000 units.Beyond that, Balakrishnan said, the company is "still exploring" what it needs to do.
(With inputs from agencies)
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