In order to meet the growing demand for the Chinese automaker’s electric vehicles, BYD Co. is considering possibilities to expand in India, including local assembly. Due to import limits, the company is considering local assembly in India and is seeking to get local safety and regulatory approvals for more models. BYD’s aspirations to establish a whole assembly factory in India were previously turned down.The Chinese company is now thinking of assembling semi-assembled pieces, though, as this would be less expensive and simpler to acquire regulatory approval for. According to media sources, a visit by senior BYD officials would precede any manufacturing action.Strong Demand Pushed BYD for Local ManufacturingThe automaker is reevaluating how to increase the number of cars in the nation due to strong demand. The dealers are running low on inventory and holding on to hundreds of bookings, according to media sources. In stark contrast, Tesla Inc. has been lowering the price of several of its models in an effort to increase sales in India.The conversations shed light on BYD’s potential as well as the regulatory challenges it faces in one of the fastest-growing vehicle markets in the world. Despite New Delhi’s previous opposition to its investment plan during… Read MoreStartupTalky- Business News, Insights and Stories
