Not applying for benefits under India's new EV policy in near term: BYD

Chinese electric vehicle maker BYD is not ready to apply for benefits in the short term under India's new EV policy announced earlier this year that seeks to attract global manufacturers to the country, a senior company official said on Tuesday.

The company, which launched its new all-electric multipurpose vehicle eMAX 7 priced between Rs 26.9 lakh and Rs 29.9 lakh, is looking at the homologation route in the short term to meet the demands of its high volume models in India, BYD India Head of Electric Passenger Vehicles Business Rajeev Chauhan told PTI here.

"Representatives of our company, who have a good idea about that policy went in, went through that. The final conclusion... is that we have decided that, no, we are not ready to implement this policy in the short term. So, we are not applying," he said when asked if BYD was looking to apply for benefits under the new EV policy in India.

Chauhan said having a manufacturing plant gives some advantages, but BYD India is not there .