Chinese EV maker BYD has reaped the benefits of in-house development of its vehicle components to price its products competitively.

The company has recently launched a new e-MPV, the BYD eMax7, that will retail from ₹26.9 lakh to ₹29.9 lakh.

The pricing of this new EV brings it in direct competition with the Toyota Innova Hycross which retails between ₹19.77 lakh and ₹26.55 lakh (ICE engines), with the hybrid Innova retailing at ₹30.34 lakh.

The eMax7 will also compete with Maruti Invicto which is priced between ₹25.05 lakh and ₹Rs 28.72 lakh (ICE vehicles) and the hybrid retailing from ₹25.21 lakh to ₹28.92 lakh.

Speaking to The Telegraph, at the launch function, BYD India business head Rajeev Chauhan said: “There is a lot of in-house development, full supply chain is available in-house that gives us a great advantage. We have what is often referred to as vertical integration. Beyond cost, there is competition and value. I believe this is competitive pricing. We are staying with these prices for some time.”

Elaborating on the cost structure, Chauhan said: “There was a platform that got developed, the E3.0 which had multiple things under its umbrella like the eight-in-one drivetrain.”

“Except for glass, BYD makes everything else for its cars be it digital screens, seats, the metal, the battery. This brings cost efficiency and we can price it competitively.”

About hybrids, Chauhan said, the company was waiting to see how the hybrid market develops.

Acknowledging that it has plug-in hybrids in its global portfolio, Chauhan said: “We are constantly evaluating hybrids. We will stick to EVs in the short term. The hybrid story has developed recently. We need to have a business case to bring those in.”

On future strategy, Chauhan said: "We want to reach out to as many customers through our product portfolio. I think with this car we have a good product portfolio.

"We have performance luxury sedan, mid-size SUV, an MPV. We are not in the mass or the luxury segment, but somewhere in between. In the short term we want to stick to this."