<p>BYD will launch its third passenger electric vehicle in India by the fourth quarter of this year, the Warren Buffett-backed Chinese electric carmaker said during an auto show on the outskirts of New Delhi on Wednesday.</p>.<p>The all-wheel drive luxury sedan, BYD Seal, will have a range of 700 kilometres. The company also plans to double its dealer network in the country in 2023, it added.</p>.<p>BYD launched its first passenger car in India in October, an electric sport-utility vehicle (SUV), with a plan to corner 40 per cent of the country's electric car market by 2030.</p>.<p>The carmaker plans to sell 15,000 units of the Atto 3 e-SUV this year in India, where it has already invested over $200 million and will set up local manufacturing in due course.</p>.<p>BYD's push comes as the Indian government continues to maintain tight scrutiny over investments from China and has sought to limit investments from Beijing after a 2020 clash between soldiers from the two countries on their disputed Himalayan border.</p>.<p>Electrification is gathering momentum in India, where domestic companies like Tata Motors, India's top-selling EV maker, and Mahindra & Mahindra are lining up affordable EV models while global players like BYD and Kia Motor are bringing in premium cars.</p>.<p>India is set to become the world's third-largest market for passenger and other light vehicles, displacing Japan, according to a forecast by S&P Global Mobility.</p>
<p>BYD will launch its third passenger electric vehicle in India by the fourth quarter of this year, the Warren Buffett-backed Chinese electric carmaker said during an auto show on the outskirts of New Delhi on Wednesday.</p>.<p>The all-wheel drive luxury sedan, BYD Seal, will have a range of 700 kilometres. The company also plans to double its dealer network in the country in 2023, it added.</p>.<p>BYD launched its first passenger car in India in October, an electric sport-utility vehicle (SUV), with a plan to corner 40 per cent of the country's electric car market by 2030.</p>.<p>The carmaker plans to sell 15,000 units of the Atto 3 e-SUV this year in India, where it has already invested over $200 million and will set up local manufacturing in due course.</p>.<p>BYD's push comes as the Indian government continues to maintain tight scrutiny over investments from China and has sought to limit investments from Beijing after a 2020 clash between soldiers from the two countries on their disputed Himalayan border.</p>.<p>Electrification is gathering momentum in India, where domestic companies like Tata Motors, India's top-selling EV maker, and Mahindra & Mahindra are lining up affordable EV models while global players like BYD and Kia Motor are bringing in premium cars.</p>.<p>India is set to become the world's third-largest market for passenger and other light vehicles, displacing Japan, according to a forecast by S&P Global Mobility.</p>