Chinese EV brand BYD (Build Your Dreams) has hit multiple roadblocks in India.
Not only BYD has witnessed product delays, but it has also faced challenges on securing homologation certificates for its sought-after SUV, the Atto 3
As an affect, BYD's India-made Atto 3 and the Seal sedan launch is delayed to 2024 launch.
The Reuters report stated that BYD had not met the necessary conditions to benefit from the lower tax rates, making the automaker liable to pay either 70 percent or 100 percent based on the car's value.
Apart from meeting the ecosystem frequently during 2023, the company is close to securing a homologation certificate for Atto 3 in November.
By 2024, BYD will have two different versions of SUV – the current version and the new one that will come with an advanced motor. There will also be the e6 and the new Seal.
While the brand has not been able to accelerate its India story, it continues to be the leader in the Rs 30 lakh-50 lakh segment ahead of Hyundai and Kia thanks to the good response to its models.