A senior company official claims that BYD, a Chinese producer of electric vehicles, is not ready to submit an application for advantages under India’s new EV policy, which was unveiled earlier this year and seeks to attract foreign manufacturers, in the near future.
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 in order to satisfy the demand for its high volume models in India, BYD India Head of Electric Passenger Vehicles Business Rajeev Chauhan told PTI here.
The policy was reviewed by our company’s representatives, who are knowledgeable about it. Ultimately, we have concluded that, no, we are not ready to implement this policy any time soon. “So, we are not applying,” BYD said in response to a question about whether the company planned to apply for subsidies under India’s new EV policy.
Chauhan stated that while there are benefits to owning a manufacturing facility, BYD India is not one of them presently.
“We are, I can confidently say that in the short term, we are not doing that,” he said, avoiding to mention the challenges posed by the geopolitics of China and India.
In March of this year, the government unveiled a new regulation regarding electric vehicles in an attempt to entice major global companies like Tesla. For five years after the government delivers the approval letter, it allows them to import a limited number of cars at a reduced customs/import charge of 15% on vehicles costing $35,000 and above.
