China’s BYD Brings $49,400 Sedan to India’s Budding EV Market

(Bloomberg) — BYD Co. Ltd. launched its third electric car in India as the Chinese automaker seeks to increase its market share in the country’s budding electric vehicle segment.

The Shenzhen-based carmaker launched Seal, a premium electric sedan, with the price starting at 4.1 million rupees ($49,400), Sanjay Gopalakrishnan, vice president at BYD’s India unit, told reporters in New Delhi Tuesday. “We’re in the premium category and we want to be the leader in that,” he said.