• BYD has begun securing visas for senior executives and engineers to visit India and plans to launch its Atto 2 compact electric SUV in the country early next year, according to Bloomberg.
• Despite India imposing a 70 percent local tax on imported vehicles, BYD still plans to price the Atto 2 well below the 2-million-rupee ($22,690) threshold.

BYD (HKG: 1211, OTCMKTS: BYDDY) is intensifying its efforts in the Indian market as Sino-Indian relations thaw.

The new energy vehicle (NEV) maker is preparing for a renewed push into India, with executives set to visit the country and plans to launch new models there, according to a Bloomberg report today.

After five years of remote management, easing of bilateral travel restrictions will allow BYD's India Managing Director Ketsu Zhang to visit the South Asian nation in the coming months, Bloomberg cited people familiar with the matter as saying.

BYD has begun securing visas for senior executives and engineers, enabling the company to restart training programs, maintain machinery, and assess the condition of its factory in southern India.

Meanwhile, the company is considering launching its Atto 2 compact electric SUV in India early next year, according to the report. The Atto 2 is known as the Yuan Up in China.

The model will become BYD's cheapest offering in India and directly challenge local mass-market automakers like Mahindra & Mahindra and Tata Motors, Bloomberg noted.

Despite India's 70 percent import duty on vehicles, BYD plans to price the Atto 2 well below the 2-million-rupee ($22,690) threshold, Bloomberg's report stated.

Vinfast Auto announced last week the launch of its compact SUV VF6, India's cheapest model starting at 1.6 million rupees, the report noted.

BYD also intends to seek approval from local regulators for roadworthiness certification to import vehicles beyond the current annual quota of 2,500 units, Bloomberg said.

During his visit, Zhang is expected to meet with Indian federal government officials in New Delhi before touring BYD's passenger vehicle plant, the report stated.

One of the source said BYD's current focus will be on assessing market conditions, the status of existing plants, and the feasibility of expanding its share in India's passenger vehicle market.

BYD executives may also discuss proposals related to battery pack assembly at a later stage, but no new investment announcements will be made during this initial visit, a source told Bloomberg.

Indian Prime Minister Narendra Modi visited China late last month, marking his first trip to the country since the 2020 border standoff between China and India. The visit is seen as a thaw in bilateral relations.

On September 1, the semi-official Weibo account @小迪快报 announced that BYD had reached the milestone of delivering its 10,000th vehicle in India.

BYD has launched four models in India: the all-electric MPV BYD eMax 7, the electric sedan Seal, the SUV Atto 3, and the Sealion 7.

The Atto 3 is known as the Yuan Plus in China, while the Sealion 7 is called the Sealion 07 in China.

($1 = 88.155 Indian rupees)