BYD Auto

BYD Auto Co., Ltd.
Company typeSubsidiary
IndustryAutomotive
PredecessorXi'an Qinchuan Automobile Co., Ltd.
Founded22 January 2003; 21 years ago (2003-01-22)
FounderWang Chuanfu
Headquarters
Shenzhen, Guangdong
,
China
Area served
Worldwide
Production output
Increase 3,045,231 vehicles (2023)
RevenueIncrease CN¥483.4 billion (2023)
ParentBYD Company (99%)
Subsidiaries
Chinese name
Simplified Chinese比亚迪汽车有限公司
Traditional Chinese比亞迪汽車有限公司
Hanyu PinyinBǐyàdí Qìchē Yǒuxiàn Gōngsī
Website
Footnotes / references
[1][2][3][4][5][6][7]

BYD Auto Co., Ltd. (Chinese: 比亚迪汽车; pinyin: Bǐyàdí Qìchē) is the main automotive subsidiary and brand of BYD Company, a publicly listed Chinese multinational manufacturing company. It manufactures passenger battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), collectively known as new energy vehicles (NEVs) in China. It also produces electric buses and trucks. The company sells its vehicles under the main BYD brand and high-end vehicles under its Denza, Yangwang and Fangchengbao brands.

BYD Auto was established in January 2003 by Wang Chuanfu, the founder of BYD Company, following the acquisition of Xi'an Qinchuan Automobile. The first car designed by BYD, the BYD F3, began production in 2005. In 2008, BYD launched its first plug-in hybrid electric vehicle, the BYD F3DM, followed by the BYD e6, its first battery electric vehicle, in 2009.

BYD Auto has experienced substantial sales growth since 2020, driven by the increasing market share of new energy vehicles in China. Since 2021, the company has expanded sales of electric passenger cars into overseas markets, mainly to Europe, Southeast Asia, Oceania and Latin America. In March 2022, BYD ended production of purely internal combustion engined cars to focus on new energy vehicles.

In the fourth quarter of 2023, BYD was the top-selling battery electric vehicle manufacturer in the world ahead of Tesla.[8] BYD was also the best-selling car brand in China in 2023, overtaking Volkswagen, which had held the title since the liberalisation of the Chinese automotive industry.[9] BYD is also the third most valuable car manufacturer in the world, based on market capitalization.[10]

The company is characterised by its extensive vertical integration, leveraging BYD group's expertise in producing batteries and other related components such as electric motors and electronic controls. Most components used in BYD vehicles are claimed to be produced in-house within the group, ensuring control and flexibility in both cost and volume. The group also operates lithium mines, lithium processing, battery production, and an in-house computer chip manufacturing unit. As of 2024, BYD Company's battery subsidiary FinDreams Battery is the world's second largest producer of electric vehicle batteries below CATL.[11] It specialises in lithium iron phosphate (LFP) batteries, including BYD's proprietary Blade battery.

  1. ^ Cite error: The named reference CNC2023 was invoked but never defined (see the help page).
  2. ^ "BYD Annual Report 2023". p. 43. Retrieved 25 June 2024.
  3. ^ "比亚迪(002594.SZ)发2022年度业绩，新能源乘用车年销量创新高，净利增446%至166亿元，拟10派11.42元" [BYD (002594.SZ) released its 2022 annual results. Annual sales of new energy passenger vehicles hit a new high, and net profit increased by 446% to 16.6 billion yuan. It plans to send 10 units to 11.42 yuan]. Zhitong Finance. 28 March 2023. Retrieved 4 April 2023.
  4. ^ "BYD Downplays China Price War Impact After Q4 Profit Jumps". US News & World Report. 28 March 2023. Retrieved 4 April 2023.
  5. ^ "BYD profit surged by 400% last year as the electric vehicle market keeps going in China". Quartz. 28 March 2023. Retrieved 4 April 2023.
  6. ^ Nika (23 September 2021). "BYD registers Zhengzhou-based subsidiary for NEV, auto parts sales". Gasgoo. Retrieved 14 December 2023.
  7. ^ "BYD sold 1.86M light-duty NEVs in 2022, up 209%". Green Car Congress. 3 January 2023. Retrieved 8 December 2023.
  8. ^ Kane, Mark (2 January 2024). "BYD Sales Hit Massive Record In December, Overtaking Tesla". InsideEVs. Retrieved 2 January 2024.
  9. ^ Cite error: The named reference BloombergVW was invoked but never defined (see the help page).
  10. ^ Pinkerton, Julie (22 August 2024). "The 10 Most Valuable Car Companies in the World By Market Capitalization".
  11. ^ Kang, Lei (7 February 2024). "Global EV battery market share in 2023: CATL 36.8%, BYD 15.8%". CnEVPost. Retrieved 15 June 2024.