(Photo Credit: BYD)
Feb.21 China- China Media Cailian Press reported that China EV giant and battery maker BYD（BYDDF）’s blade battery could enter India by being fitted in Toyota models.
Toyota will cooperate with Maruti Suzuki to jointly explore the electric vehicle (EV) market in India. The first EV is a medium-sized SUV with the code name YY8. This piece of news seems very consistent with BYD’s entry into India.
What Happened:
FinDreams Battery, the production base for BYD’s blade battery, is recruiting overseas market personnel, including customs and logistics workers who are familiar with the import and export policies of the Indian market. Regarding whether the FinDreams Battery will enter the Indian market, the relevant BYD employee refused to comment.
The two sides will also develop at least five products based on the scalable 40L skateboard platform, and they are expected to be powered by BYD’s blade battery.
Toyota and Maruti Suzuki hope to jointly sell 125,000 EVs every year, including 60,000 in India. Maruti Suzuki hopes that the price of its pure electric SUVs will be controlled between 1.3 million and 1.5 million rupees (about $17,412 to $20,090).
BYD’s cooperation process with Toyota
The cooperation between Toyota and BYD began a while ago. In March 2020, BYD Toyota EV Technology Co., Ltd., headquartered in Shenzhen, was formally established. According to the plan, Toyota will launch a pure electric small car based on the BYD E3.0 platform and equipped with a “blade battery” for the Chinese market at the end of this year, and the price may be less than 200,000 yuan ($31,543).
(Photo Credit: BYD)
BYD’s entry into India
BYD has long coveted the Indian market, an emerging EV hub. As early as 2013, the BYD K9 became the first pure electric bus in India. In 2019, BYD received an order for 1,000 pure electric buses in India.
More information about the China EV giant BYD，see also：
- See how we compare BYD and Tesla
- BYD introduces new brand theme: Technology, Green, Future
- BYD is set to have 8 factories operating in 2022, with an annual capacity of more than 3 million
