BYD surges 80% to become one of India’s top five EV makers as import limits ease, footprint expands
Two factors contributed to BYD’s growth. First, the company is expanding its footprint in the country. Between 2023 and 2025, its total outlets have nearly doubled to 47. Second, import limits have eased on some of its models as they have been homologated.
NEW DELHI : On the back of an almost 80% surge in sales this year so far, Chinese carmaker BYD has jumped to the fifth spot in India’s electric vehicle (EV) pecking order and is revving for more.
Between 1 January and 30 November, BYD registered 5,121 vehicles, compared to 2,870 units in the entire 2024, according to the latest data from Vahan portal. In the same period, India’s electric four-wheeler industry grew 60% with 160,000 units in sales.
Two factors have contributed to BYD’s growth. First, the company is expanding its footprint in the country. Between 2023 and 2025, its total outlets have nearly doubled to 47. It inaugurated new stores in Haryana in November.
Second, import limits have eased on some of its models as they have been homologated, according to its largest local dealer, Landmark Cars, allowing the company to bring in more cars into the country for sales.
Two models—Atto 3 and eMax 7—have received homologation certificates, Sanjay Thakkar, chairman of Landmark Cars, said during an earnings call on 12 November. He added that the process has started for Sealion, which is emerging as one of its best-selling models. The fourth model—the sedan Seal—has not moved on the homologation path yet.
Homologation is the process of certification for vehicle models to deem them fit to run on Indian roads. As per Indian rules, about 2,500 units can be imported per year for each model that has received international homologation certification, but doesn’t have it in India.
After homologation in India is completed, there is no limit to the number of cars that can be brought in.
BYD did not respond to a request for comment on the issue.
Building momentum
Shenzhen-headquartered BYD is China’s leading electric car maker, with global sales of 4.2 million units in 2024. In the first six months of 2025, it sold 2.11 million units, witnessing a growth of 31.5%, according to company statements.
In India, while its numbers are much smaller, the company has outsold Hyundai—which has been selling its flagship Creta Electric since the beginning of this year—in electric car sales in the past three months.
In September, October and November Hyundai sold 1,171 electric cars as per Vahan portal, compared to 1,586 units by BYD. However, from January-November overall, Hyundai is slightly ahead, with sales of about 6,400 electric cars compared to BYD’s 5,121 units.
The market leader in EV sales is Tata Motors, which sold more than 62,000 units in January-November, followed by JSW MG Motor India (47,100 units), and Mahindra & Mahindra with 27,000 units.
To be sure, model prices are higher for BYD compared to its bigger rivals. Starting prices of all BYD models are in the range of ₹24-49 lakh, compared to ₹8-22 lakh for Tata, M&M and JSW MG Motor, but closer to the ₹49-70 lakh range of international models from the likes of BMW, Vinfast, and Tesla.
The Chinese carmaker, which has been selling in the Indian market since 2021, partners with dealerships across the country for running its sales and servicing centres. It is currently running these services through 18 dealership partners across 47 showrooms in 40 cities.
Puneet Gupta, director at S&P Global Mobility, said BYD's positioning in the Indian market is turning into an aggressive growth strategy.
“Its main products have received strong traction in the Indian market. A major challenge for the company are the import duties as its investments in Indian assembly are not allowed. If they are allowed at some point in future, they will pose a major challenge to all carmakers EV business."
Currently, BYD imports fully built cars from its plants in China—it doesn’t have any assembly facility in India. Such fully built cars attract an import duty of more than 70%, which leads to a higher price of its vehicles.
BYD’s buildup in India has also been affected by local rules. Investments from China have to be approved by the Indian government under the Press Note 3 route. Experts have said that BYD will need a local partner if it plans to make assembly plants in the country.
Media reports since 2023 have speculated that BYD and Megha Engineering had submitted a proposal to build an EV factory, but the plant has so far not materialised.
Tesla, Vinfast join the fray
Meanwhile, BYD’s surge in sales comes at a time when its global rivals Tesla and Vinfast have begun their journey to make their place in the Indian car market this year.
Elon Musk-led Tesla opened its first retail store in Mumbai in July this year, followed by two more stores in Delhi NCR in August and November. Meanwhile, Vinfast has expanded its dealership network to 24 with target of 35 outlets by the end of this year.
Both the carmakers have made tepid starts in the market, with Tesla selling 157 cars so far while Vinfast has sold 428 cars, as per Vahan portal.
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