“We will look at the next phase of expansion and explore a new facility in 2025,” Sanjay Gopalakrishnan, senior vice-president of BYD India’s electric passenger vehicle business, told ET during an auto show on Wednesday. “Till then we will assemble. We are looking at a long-term prospect in this market. If you want to be a big EV player, you have to manufacture locally.”
However, Gopalakrishnan said, “We are not investing.” He said BYD already has a manufacturing setup in India, and it can expand capacity by another 10,000-15,000 units in the existing plant without further investment.
The Indian government’s scrutiny of investments from China has sharpened after border skirmishes between the two nations.
The Warren Buffett-backed carmaker expects that by 2030, one in every three cars sold in India will be electric.
