Mrunal Manmay Dash

Chinese electric vehicle firm Build Your Dreams (BYD) is pushing boundaries and is growing from strength to strength overseas, particularly in Europe. Its Indian business too, is quietly making inroads into the country's fast-evolving electric car market.

In 2023, BYD rose to the top of the country’s midsize EV sector, pipping established German and Korean carmakers to first place in the Rs 30 lakh - 70 lakh price segments.

As per a Car & Bike report, BYD shipped 2,038 vehicles in CY2023 – an over five-fold increase in its annual sales compared to 2022.

While the entry-level and compact EV segments are dominated by market leader Tata Motors and SAIC-owned MG Motor, the midsize EV space is populated by the likes of BYD, Hyundai, Kia, BMW, and Volvo. Among all, BYD is the only brand that exclusively sells EVs

The Seal, which will be BYD’s priciest offering in India, is expected to remain a niche offering, but the brand is hopeful that its performance credentials will have a positive rub-off on sales of other models, and help it maintain the sales momentum it generated in the year gone by.

The automaker is poised to surpass Tesla Inc. as the new worldwide leader in fully electric vehicle sales. When it does — likely in the current quarter — it will be both a symbolic turning point for the EV market and further confirmation of China’s growing clout in the global automotive industry.