According to a senior corporate official, Chinese electric vehicle manufacturer BYD is not prepared to apply for benefits under India’s new EV policy, which was introduced earlier this year and aims to draw in international manufacturers, in the immediate term.
In order to satisfy the demand for its high volume models in India, the company, which recently unveiled the all-electric multipurpose vehicle eMAX 7, priced between Rs 26.9 lakh and Rs 29.9 lakh, is considering the homologation route in the near future, BYD India Head of Electric Passenger Vehicles Business Rajeev Chauhan told PTI here.
“Our company’s representatives, who are well-versed in that policy, went through it. In the end, we have determined that, no, we are not prepared to put this policy into effect anytime soon. When asked if BYD intended to apply for incentives under the new EV policy in India, he responded, “So, we are not applying.”
Chauhan said having a manufacturing unit brings some advantages, but BYD India is not there yet.
“We are, I can confidently say that in the short term, we are not doing that,” he stated, declining to address the difficulties brought on by China and India’s geopolitics.
The government introduced its new electric vehicle policy in March of this year in an effort to draw in big international players like Tesla. It permits them to import a restricted quantity of cars at a reduced customs/import duty of 15% on vehicles costing $35,000 and above for a period of five years from the date the government issues the approval letter.