BYD's blade battery could enter India by being fitted in Toyota models, and the company is already recruiting for business related to it, local media said.
(Image credit: BYD)
BYD is not only a new energy vehicle (NEV) giant, but also a power battery giant. Now the latest information suggests its blade battery is expected to enter India.
BYD's blade battery could make its way to India by being installed in Toyota models, and the company is hiring for operations related to it, local media Cailian reported today.
BYD's battery-making arm, FinDreams, is hiring for overseas operations, including people familiar with the Indian market's import and export policies and logistics personnel, the report said.
BYD sources would not comment on whether the company has plans to enter India, the report said, adding that recent rumors have echoed the plans.
Toyota will partner with India's Maruti Suzuki to develop the local electric vehicle (EV) market, with the first electric model likely to be a midsize SUV codenamed YY8, the report said, citing recent rumors.
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, the report said.
BYD has long coveted the emerging EV market in India, the report noted.
In 2013, the BYD K9 became India's first all-electric bus, launching the country's bus electrification process. In 2019, BYD received an order for 1,000 all-electric buses in India.
In early February this year, the first 30 BYD e6 vehicles were delivered in India and were mainly used as cabs. In the promotion of the e6, BYD India focused on the blade battery it carries, according to Cailian.
It is worth noting that BYD and Toyota have a close partnership.
Toyota and BYD announced the launch of their joint venture, BYD Toyota Electric Vehicle Technology Co Ltd, on April 2, 2021. The joint venture, located in Shenzhen, is 50 percent owned by Toyota and 50 percent by BYD and had 300 employees at its inception.
The main role of the joint venture is the development of EVs, and future new models are expected to be sold in Toyota and BYD's respective channels.
On December 3 last year, Reuters reported, citing people familiar with the matter, that Toyota will release an all-electric compact car in China in 2022 that will use BYD's core technologies, including its lithium iron phosphate batteries and low-cost engineering.
The model will be unveiled at the Beijing Auto Show in April and will likely be used as the second model in Toyota's bZ series, but for now will only be sold in China, according to the report.
"The project is still in the confidential stage of development, please refer to the announcement of both parties," BYD responded at the time.
BYD sold 93,168 NEVs in January, up 361.7 percent from a year earlier, the third consecutive month in which it exceeded 90,000 units.
Earlier this month, the company hinted at a sales target of 1.5 million NEVs this year, implying a 153 percent increase over the 593,700 units sold in 2021.
In addition to being a NEV giant, BYD is also China's second-largest power battery supplier.
In 2021, the cumulative installed base of power batteries in China was 154.5 GWh, up 142.8 percent year-on-year, according to data released last month by the China Automotive Battery Innovation Alliance (CABIA).
CATL, the supplier of Tesla and Nio, had 80.51 GWh of power batteries installed in China in 2021, capturing 52.1 percent of the market.
BYD's power battery installation in 2021 is 25.06 GWh, with a market share of 16.2 percent, ranking second.
