BYD India Hikes EV Prices by up to ₹1 Lakh on Select Models

BYD India has raised the price of some of its electric vehicles by as much as ₹1 lakh. The move affects select variants of the e6 and Atto 3 models. The new prices take effect immediately.

The company announced the hike in a statement on Tuesday. It said the increase is due to rising input costs. BYD did not specify which exact variants are affected beyond the e6 and Atto 3 lines.

The e6 is a multi-purpose vehicle. The Atto 3 is a compact SUV. Both are among BYD's best-selling models in India. The price increase ranges from ₹50,000 to ₹1 lakh, depending on the variant.

This is not the first time BYD has adjusted prices in India. The company has raised prices several times over the past year. Each time, it has pointed to higher costs for raw materials and components.

BYD entered the Indian market in 2021. It has since built a network of showrooms and service centers across the country. The company sells only electric vehicles in India. It competes with homegrown makers like Tata Motors and Mahindra & Mahindra.

The Indian EV market is growing fast. Tata Motors leads with a 70% share. BYD holds a smaller but growing slice. The company sold over 2,000 vehicles in India last year.

Price is a key factor for Indian EV buyers. Most models cost between ₹10 lakh and ₹25 lakh. A hike of ₹1 lakh can push a vehicle out of reach for many customers. BYD is betting that its buyers will absorb the increase.

The company said it is trying to keep prices as low as possible. But it cannot absorb all the cost increases itself. The statement did not say when or if prices might come down again.

BYD is also expanding its manufacturing in India. It plans to build a second plant in the country. The new factory will make both vehicles and batteries. That could help lower costs in the future.

For now, Indian buyers will pay more for a BYD EV. The question is whether the market will bear the higher prices. Rivals like Tata have kept their prices steady this year. That could give them an edge.

The Indian government wants EVs to make up 30% of new car sales by 2030. That target will require affordable options. Price hikes like this one work against that goal.

BYD is a global giant in EVs. It sells more electric cars than any other company except Tesla. But in India, it is still a small player. Every price move matters.

The company has not said if it will raise prices again. For now, customers looking to buy a BYD will have to pay more. The new prices are already in effect at dealerships.