The sword points to 40%! BYD Overseas is making renewed efforts to promote the Indian market!
On January 12, a reporter from Shanghai Securities News learned from BYD that BYD hopes to occupy 40% of the Indian electric vehicle market by 2030.
India is the fourth largest automobile market in the world and plans to increase the market share of electric vehicles to 30% by 2030. BYD announced its entry into the Indian passenger car market on October 11, 2022, and planned to establish a new production base.
Unlike BYD's accelerated internationalization, as of January 3, 2023, Buffett had reduced his holdings of BYD H shares by a total of 71.6675 million shares, cashing out a total of HK$15.305 billion.
This inevitably makes people wonder, how far can the new energy vehicle market continue to develop?
Vigorously promote the Indian market
On January 11, 2023, BYD launched the BYDATTO3 limited edition Forest Green (Forest Green) at the New Delhi International Auto Show in India. Only 1,200 units were sold, and it also brought a brand new The pure electric coupe Seal made a stunning debut.
BYD introduced that Seal is another new energy model launched in the Indian market in the past two years after the company's new e6 and BYDATTO3, and will be officially released in the fourth quarter of 2023.
A research report released by Everbright Securities pointed out that unlike 2020, when Han was listed in the early stages of the development of new energy vehicles, competition among new energy vehicles will intensify in 2022. In addition to focusing on intelligent driving experience, consumers will also consider the brand. reputation, overall product performance, and vehicle delivery cycle. Seal targets a younger customer base, has both a sense of technology and dynamism, and has a lower price than competing models, giving it a significant competitive advantage.
Sanjay Gopalakrishnan, senior vice president of BYD's Indian electric passenger car business, said that with the unveiling of the pure electric coupe Seal and the launch of BYDATTO3 limited edition, BYD will continue to delve into the Indian market.
BYD introduced that the first batch of BYDATTO3 will be delivered on January 11, 2023. Currently, BYD's sales network covers 21 cities in India and has 24 showrooms. In 2023, BYD plans to expand the number of showrooms in India to 53.
On October 11, 2022, BYD announced its entry into the Indian passenger car market and released India's first sports pure electric SUV BYDATTO3.
At that time, Zhang Jie, general manager of BYD's Indian branch, introduced that BYD planned to sell 15,000 Yuan PLUS vehicles in India in 2023 and planned to establish a new production base.
Internationalization will accelerate in 2023
As we enter 2023, BYD’s internationalization process will accelerate significantly.
On January 11, 2023, BYD announced that 500 BYDATTO3 vehicles were recently assembled at Shanghai Port and were officially shipped to Malaysia after completion of shipment.
BYD introduced that after 500 BYDATTO3 vehicles arrive in Malaysia, the company will gradually start delivery to end customers. It is reported that it only took one month from the time the model was launched to the time it was successfully shipped to Malaysia.
It is reported that, as BYD’s first passenger car model for the global market, BYDATTO3 *** will export 40,014 units in 2022. BYD said that as the internationalization process accelerates, the company will continue to expand the model lineup of new energy passenger vehicles exported overseas.
On November 16, 2022, BYD Chairman Wang Chuanfu previously stated that BYD will further develop its efforts in the global market and promote the internationalization of the passenger car industry through "in the world and for the world".
Looking back, BYD began to disclose overseas sales of new energy vehicles in the second half of 2022, and sold more than 10,000 new energy passenger vehicles overseas for two consecutive months in November and December.
Guohai Securities recently released a research report that currently, BYD’s new energy vehicles have footprints in more than 70 countries and regions. With the rapid advancement of the company’s new energy passenger vehicle overseas plans, overseas markets are expected to increase sales. another important growth point.
BYD’s passenger car internationalization still has great potential. On the afternoon of January 12, 2023, the China Association of Automobile Manufacturers held an information conference to introduce that Chinese brands have performed well, seizing the opportunities of new energy and intelligent network transformation to make comprehensive progress, and product competitiveness continues to improve.
Overall, China's automobile exports will continue to maintain a high level in 2022, hitting monthly record highs repeatedly. Since August, the average monthly export volume has exceeded 300,000 vehicles, and the annual exports in 2022 will exceed 3 million vehicles. , effectively driving the overall growth of the industry.
How far can new energy vehicles "drive"?
As the market for new energy vehicles continues to boom, Buffett has continued to reduce his holdings of BYD H shares starting in the second half of 2022.
The reporter checked the Hong Kong Stock Exchange Disclosure and found that as of January 3, 2023, Buffett had reduced his holdings of BYD H shares for the seventh time, with a total reduction of 71.6675 million shares, and still held approximately 153 million shares.