Amid Tesla’s Slow Growth, Rival BYD Plans Renewed India Push As Ties Between New Delhi, Beijing Warm Up: Report

Chinese EV giant BYD Co. Ltd. BYDDY BYDDF is reportedly pushing to enter the Indian market as diplomatic ties between New Delhi and Beijing ease.

BYD Mulls Introducing Atto 2 SUV, Senior Management To Visit India

The company is reportedly planning to introduce the BYD Atto 2 electric crossover in the market next year, pricing it at under 2 million INR (approximately $22,600), amid a renewed India push, Bloomberg reported on Wednesday.

BYD is also in the process of securing visas for the company’s senior management, with the Indian regional director, Ketsu Zhang, set to visit the country in the coming months, the report suggests, citing anonymous sources.

The push follows easing tensions between India and China following border skirmishes in 2020, which resulted in the deaths of multiple army personnel. Tariff threats from President Donald Trump, as well as India’s need for rare earth minerals and tech, could be some reasons for the ties to warm up, the report said.

Tesla’s Slow Growth In India, Dwindling Sales

The news follows Tesla’s slower-than-expected growth in India, where the company has managed to secure 600 orders for the Tesla Model Y, lower than what was expected. The Model Y is currently the EV giant’s only offering in the country and is priced at approximately $70,000.

Tesla’s sales in other markets are also recording lackluster performances, with its European sales declining 40% and its market share in the U.S. falling below 40% for the first time since 2017.

BYD Slashes Annual Sales Target, Records Growth In EV Battery Market

Meanwhile, BYD has reportedly slashed its annual sales target by over 16% to 4.6 million vehicles for 2025. The company had earlier set a target of 5.5 million vehicles for the year. BYD also reported a 30% decline in its profits, citing increasing competition in the Chinese market.

Elsewhere, the EV giant has maintained a steady growth in the global EV battery market, boasting over 17.8% of the market share with 105 GWh worth of battery installations from January to July 2025.

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