Once a small battery manufacturer a transformative journey began here. Today we stand before BYD Auto Co. Ltd. It is a symbol of China’s rise in the global automotive industry.
BYD Auto is the main automotive subsidiary of BYD Company. It is a multinational manufacturing giant. Here in Shenzhen, BYD Auto designs and manufactures passenger vehicles. These include battery electric vehicles and plug-in hybrid electric vehicles. These vehicles are known as new energy vehicles in China. BYD also produces electric buses and trucks.
BYD Auto was established in January 2003. Wang Chuanfu is the founder of BYD Company. He acquired Xi’an Qinchuan Automobile. This acquisition marked BYD’s entry into the automotive world. The first car designed by BYD was the BYD F3. Production started in 2005.
Since 2020, BYD Auto has seen substantial sales growth. This growth is driven by the increasing market share of new energy vehicles in China. Since 2021, the company has expanded sales into overseas markets. These markets include Europe, Southeast Asia, Oceania, and Latin America. In March 2022, BYD ended production of purely internal combustion cars. They focused on new energy vehicles.
In the fourth quarter of 2023, BYD was the top-selling battery electric vehicle manufacturer. It was ahead of Tesla. BYD is also the best-selling car brand in China since 2023. It overtook Volkswagen, which had held the title since the liberalization of the Chinese automotive industry. BYD is the third most valuable car manufacturer in the world based on market capitalization.
BYD leverages its expertise in producing batteries and other components. These include electric motors and electronic controls. Most components used in BYD vehicles are produced in-house. This ensures control and flexibility in both cost and volume. The group also operates lithium mines. It handles lithium processing and battery production. It has an in-house computer chip manufacturing unit. BYD’s battery subsidiary, FinDreams Battery, is the world’s second-largest producer of electric vehicle batteries. It specializes in lithium iron phosphate batteries including BYD’s Blade battery.
BYD Company was founded in 1995 as a battery manufacturer. In its early years, BYD Auto achieved growth by reverse engineering competitor’s products and supplier parts. The BYD F3 is considered “a copycat” of the Toyota Corolla. The BYD F0 small car was described as “a clear copy” of the Toyota Aygo.
BYD began exploring hybrid and electric vehicles early. Wang Chuanfu set a goal. He wanted the company to become the leader in the Chinese automotive market by 2015 and the largest car manufacturer globally by 2025.
In March 2008, the plug-in hybrid electric version of the BYD F3, the F3DM, was introduced. It was the world’s first production model plug-in hybrid car. In January 2009, BYD introduced its first production battery electric vehicle the e6.
BYD introduced its first vehicle equipped with the Blade battery the BYD Han large sedan in early 2020. BYD announced its entry to Europe in May 2020 starting with Norway. In January 2023, BYD established its second premium brand called Yangwang.
Here at BYD in Shenzhen, innovation drives every aspect of production. From batteries to complete vehicles BYD is committed to building your dreams for a greener future. This Shenzhen plant is more than just a manufacturing facility. It is a testament to China’s ambition and capability in the automotive industry.