This article first appeared on GuruFocus.
BYD Co (BYDDF) is setting its sights on India again, as thawing diplomatic ties give the Chinese EV powerhouse another shot at cracking the world’s biggest population market, Bloomberg reported.
For five years, BYD ran its India business remotely. Now, with travel restrictions easing, the company’s India head, Ketsu Zhang, is expected to return in the coming months. Direct flights between China and India are resuming after a four-year freeze, and talks are underway to reopen trade channels that had been shut off.
The timing is key. BYD has reportedly trimmed its 2024 sales goal by as much as 16% to 4.6 million vehicles, marking its slowest growth in five years. Rival Tesla (NASDAQ:TSLA) officially rolled into India in July with its Model Y SUV at around ?6M ($69,751), but demand has been tepid, with just over 600 orders so far.
For investors, the takeaway is clear: India is shaping up as the next battleground for global EV players, though early signs show it may not be an easy market to crack.
