The SKD approach is seen as more manageable in terms of cost and regulatory approvals and could reduce import duties from 70% to around 30%. BYD is evaluating multiple options to expand its presence in India, including local assembly, as sustained growth in electric vehicle demand puts pressure on supply, Bloomberg reported on January 28, citing people familiar with the matter. Due to restrictions on fully built vehicle import quotas, BYD is accelerating local safety and regulatory certifications for additional models while reassessing how vehicles are supplied to the Indian market. BYD’s showroom in Ahmedabad, India According to the sources, although Indian authorities previously rejected BYD’s proposal to build a full vehicle manufacturing plant, the company is now considering a semi-knocked-down (SKD) assembly model. The SKD approach is seen as more manageable in terms of cost and regulatory approvals and could reduce import duties from 70% to around 30%, significantly improving cost structures. A final decision on manufacturing arrangements is expected after BYD’s senior management completes an upcoming visit to India. The sources said local dealers are currently holding several hundred undelivered orders, while existing import quotas are close to being fully utilized. This contrasts with Tesla’s approach in India, where the company has relied on price cuts for certain models to stimulate demand. BYD Atto 3 Despite facing import tariffs of up to 110% on fully built vehicles, BYD delivered about 5,500 vehicles in India last year, up 88% year on year. However, under regulations that cap imports of a single complete vehicle model at 2,500 units, BYD’s expansion remains constrained. Most of the company’s inventory for the quarter ended December has already been sold out, according to the sources. BYD currently sells the Atto 3, eMax7, Sealion 7 and Seal in India. The Atto 3 is priced from around INR 2.5 million ($27,255), and after adding a 70% import duty, it is positioned at the premium end of India’s mainstream EV market. BYD Sealion 7 Sealion 7 sales reached about 2,200 units last year, with prices ranging from INR 4.9 million to 5.5 million ($53,400–$59,900), undercutting the Tesla Model Y’s starting price of around 6 million rupees ($65,300). Against the backdrop of fading domestic subsidies and intensifying competition in China, BYD is accelerating its overseas expansion and plans to raise overseas deliveries by 25% this year to 1.3 million vehicles.
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