BYD is set to introduce its first electric car in Bangladesh.
BYD, the global electric vehicle (EV) giant based in Shenzhen, is set to revolutionize Bangladesh's automotive landscape with the launch of its first car by March next year. The debut will feature the BYD Seal, a premium electric sedan boasting a rapid 40-minute full charge capability and an impressive range of up to 540 kilometers.
Operated by CG-Runner Bangladesh, a collaboration between Nepal's Chowdhury Group and local pioneer Runner Group, the details of the EV venture remain confidential. Insider sources confirm the BYD distributorship agreement and the completion of recruitment for the Bangladeshi operation, with active training in progress for the imminent launch.
The iconic Haque Building in Dhaka's Tejgaon is undergoing transformation to house BYD's inaugural showroom, complemented by an advanced service center nearby. BYD's strategic entry plan involves launching with the BYD Seal and gradually introducing more affordable models to cater to mass-market demands.
Globally, BYD has emerged as a formidable competitor to Tesla, matching third-quarter battery electric vehicle sales and capturing 17% of the global BEV market, according to Counterpoint Research. Analysts predict BYD's potential surpassing of Tesla in the fourth quarter, solidifying its position as the global EV leader.
In Bangladesh, the Electric Motor Vehicle Registration and Operation Guideline 2023 is driving the transformation of the slow adoption of EVs, aiming for a 30% electric vehicle market share by 2030. BYD's entry, along with initiatives from local players like Palki Motors and Bangladesh Auto Industries, marks a significant milestone in the country's EV evolution.
