BYD surges 80% to become one of India’s top five EV makers as import limits ease, footprint expands

According to the latest data from the Vahan portal, between January 1 and November 30, BYD registered 5,121 vehicles, compared to 2,870 units in the whole of 2024. During the same period, India’s electric four-wheeler industry grew by 60% with sales of 160,000 units.

Two factors contributed to BYD’s growth. First, the company is expanding its footprint in the country. Between 2023 and 2025, total sales points almost doubled to 47. It opened new stores in Haryana in November.

Secondly, according to its largest local dealer, import limits have been relaxed as homologation has been carried out on some models. Landmark Cars allows the company to bring more cars into the country for sale.

Sanjay Thakkar, president of Landmark Cars, said during the earnings call on November 12 that two models (Atto 3 and eMax 7) have received homologation certificates. He added that the process has begun for Sealion, which stands out as one of the best-selling models. The fourth model, the sedan Seal, has not yet progressed towards homologation.

Homologation is the certification process that shows vehicle models are fit to operate on Indian roads. According to Indian rules, about 2,500 units per year can be imported for each model that has received an international homologation certificate but is not available in India.

There is no limit on the number of vehicles that can be brought into India after homologation is completed.

BYD did not respond to a request for comment.

Building momentum

Based in Shenzhen BYD is the leader of China The electric car manufacturer achieved sales of 4.2 million units worldwide in 2024. According to company statements, it sold 2.11 million units in the first six months of 2025, with a growth of 31.5%.

Although their numbers are much smaller in India, the company has overtaken Hyundai, which has been selling its flagship Creta Electric since the beginning of this year, in electric car sales in the last three months.

According to the Vahan portal, Hyundai sold 1,171 electric cars in September, October and November, while BYD announced this figure as 1,586 units. But overall, from January to November, Hyundai is slightly ahead, with sales of around 6,400 electric cars compared to BYD’s 5,121.

Market leader in EV sales Tata Motors, which sold more than 62,000 units in the January-November period, was followed by JSW MG Motor India with 47,100 units and Mahindra & Mahindra with 27,000 units.

Of course, BYD’s model prices are higher than its major competitors. All BYD models have starting prices within range. ₹24-49 lakh, compared ₹8-22 lakhs For Tata, M&M and JSW MG Motor, but ₹49-70 lakh range A collection of international models such as BMW, Vinfast and Tesla.

The Chinese automaker, which has been selling in the Indian market since 2021, partners with dealers across the country to operate sales and service centers. It currently provides these services through 18 dealership partners in 47 showrooms in 40 cities.

S&P Global Mobility Director Puneet Gupta said BYD’s position in the Indian market has translated into an aggressive growth strategy.

“Its core products have gained strong traction in the Indian market. One of the biggest challenges for the company is import duties as they are not allowed to invest in Indian assembly. If these are allowed at some point in the future, they will pose a huge challenge to the EV businesses of all automakers.”

Currently, BYD imports fully manufactured cars from its factories in China; There are no assembly facilities in India. Such fully produced cars are subject to an import duty of over 70%, resulting in higher prices for the vehicles.

BYD’s structure in India was also affected by local rules. Investments from China must be approved by the Indian government under Press Note 3. Experts said that BYD will need a local partner if it plans to establish an assembly plant in the country.

BYD and Megha Engineering had submitted a proposal to set up an EV factory, but the facility has not been implemented so far.

Tesla and Vinfast join the fight

Meanwhile, the increase in BYD’s sales comes at a time when global rivals Tesla and Vinfast have started their journey to enter the Indian automobile 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 increased its dealership network to 24 with the target of 35 sales points by the end of this year.

According to Vahan portal, both automakers had a lukewarm start in the market; While Tesla has sold 157 cars so far, Vinfast has sold 428 cars.