BYDDY - Warren Buffet-backed Chinese electric carmaker BYD launched its first passenger car in India

• BYD ( OTCPK:BYDDF ) has launched its first passenger car in India on Tuesday, marking its entry into the world's fourth-largest car market where Tata Motors ( TTM ) dominates electric car sales amid a broader global expansion - Reuters .
• The company already sells electric buses and electric vehicles for corporate fleets in India and now launched the Atto 3 electric SUV, fitted with BYD's renowned Blade battery technology.
• "We intend to sell 15,000 units of BYD-Atto 3 in India over the next year and plan to set up a local manufacturing facility in due course," BYD India Executive Director Ketsu Zhang said in a statement, adding that the company had invested more than $200 million in India. The company has two manufacturing plants in India, spread over 140,000 square metres with more than 3,000 employees."
• It would not need to bring in new investments to assemble and sell the Atto 3, a source familiar with the company's plans said.
• Earlier this year, the company said it would start selling its passenger EVs in Japan from 2023 and also has plans to set up a facility in Thailand - its latest among 30 others in the United States, Brazil and India - to produce 150,000 cars a year from 2024. It launched the Atto 3 electric SUV in Thailand on Monday.

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