“We aim to sell 15,000 units in the next one year. We plan to set up a local manufacturing plant,” said Ketsu Zhang, executive director of BYD’s India unit. He said that the company has invested more than $200 million in India. Worldwide sales of BYD’s electric cars and plug-in electric hybrid vehicles have grown rapidly over the past few years. The company had told that it will start selling passenger EV in Japan from next year. It also plans to set up a factory in Thailand. company launched the Atto 3 in Thailand on Monday. Its target is to produce 1,50,000 cars annually by 2024.
BYD, funded by famous investor Warren Buffet, has invested in India at a time when the central government is closely scrutinizing investments from some countries including China. Due to this, Chinese carmaker Great Wall Motor canceled its plan to invest about one billion dollars in India earlier this year.
In the second quarter of the current financial year, BYD has beaten Tesla to sell the most electric vehicles (EV) globally. In the second quarter of the current financial year, BYD sold around 3,54,000 EVs, registering an annual growth of 266 percent. Tesla’s sales during this period stood at around 2,54,000 units. Total sales of these vehicles grew by 61 per cent year-on-year to 2.18 million units in the second quarter. China is on top in this market with 12.4 lakh units. This sales in China has increased by about 92 percent on an annual basis. Europe and America were second and third. This is the first time that an automobile company has overtaken Tesla in EV sales. The major reasons for the decline in Tesla sales were the semiconductor shortage and the pandemic. However, the second half of this year is likely to be better for the company.
(This news has not been edited by NDTV team. It is published directly from syndicate feed.)
Gadgets 360 for the latest tech news, smartphone reviews and exclusive offers on popular mobiles Android Download the app and visit us Google News Follow up on